Market Sectors

New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.

Residential & Mixed Use
Developer sells four-year-old, 232-unit Belleville rental complex for $80 million, JLL says

Klein Enterprises has sold a 232-unit luxury apartment property in Belleville, the Maryland-based developer’s first project in New Jersey, in an $80 million deal arranged by JLL.

Industrial
Woodmont, Jingoli secure 96,000 sq. ft. lease at new South Amboy warehouse

A logistics firm has taken 96,000 square feet in South Amboy, filling more than half of a newly built warehouse facility by Woodmont Industrial Partners and Joseph Jingoli & Son. Inc.

Retail
CBRE: Restaurant, lounge leases 4,200 sq. ft. at restored Kislak Building in Newark

A new eatery is coming to downtown Newark after taking space at a historic commercial building that’s now home to high-end apartments, in a deal arranged by CBRE.

Professional Services
Ro joins RIPCO’s growing team as associate retail adviser

RIPCO Real Estate has hired Michael Ro as an associate retail adviser based in its Elmwood Park office, the brokerage firm announced this week.

Residential & Mixed Use
Amato, veteran Jersey Shore homebuilder, sworn in as NJBA board chair

The New Jersey Builders Association has installed Christopher Amato as its new chair, a key post for the influential trade association and its critical advocacy and education platform.

Industrial
Rockefeller Group sells new 241,000 sq. ft. industrial building in Piscataway to Elion Partners

Rockefeller Group has sold a newly completed, 241,200-square-foot distribution center in Piscataway, the final piece of a redevelopment that yielded more than 2.5 million square feet of modern warehouse space over the course of a decade.

Finance & Capital Markets
Rental project at Morristown station advances with $40 million construction loan, CBRE says

A developer has landed a $40 million construction loan for a planned 89-unit luxury apartment building next to NJ Transit’s Morristown station, in a newly announced deal by CBRE.

Industrial
STRO, KRE eye fall delivery for new 65,000 sq. ft. warehouse in Parsippany

STRO and KRE Group are set to begin construction on a new 65,000-square-foot industrial project that will bring new life to what was a vacant office property in Parsippany.

Finance & Capital Markets
JLL: Lightstone snags $13.5 million refi loan for 71,000 sq. ft. Millburn shopping center

The owner of a more than 71,000-square-foot shopping center in Millburn has closed on a $13.5 million refinancing loan for the property, brokers with JLL announced Wednesday.

Finance & Capital Markets
Kennedy Funding closes $2.5 million land loan for 63-acre St. Thomas portfolio

Kennedy Funding, the Englewood-based direct private lender, has closed a $2.5 million cash-out refinancing loan to the owner of some 63 acres of property on the Caribbean island of Nevis.