Hospitality & Tourism

Whether it’s the proximity to New York City or all of the tourist attractions that New Jersey has to offer, the Garden State’s hospitality industry is booming. Hotels are increasingly becoming part of major redevelopment projects.

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Real Estate NJ’s 2025 Market Forecast

Commercial real estate leaders have entered 2025 with varying levels of optimism. That’s evident from this year’s Real Estate NJ Market Forecast, where you’ll find everything from caution to confidence about how the sector will perform as it balances strong fundamentals in several key asset classes with new regulatory headwinds, nagging inflation and what seems to be a lingering lack of clarity over when lower interest rates will truly impact the industry.

You can read all about it in our 2025 Market Forecast, which features predictions and insights from some of the state’s leading voices in commercial real estate.

Finance & Capital Markets
Kennedy Funding closes $1.9 million land loan for Ontario resort property

The owner of a resort under construction in Ontario, Canada, is set to acquire another 125 acres for the project, having secured a nearly $1.9 million loan from Kennedy Funding.

Hospitality & Tourism
EDA approves $4 million grant to expand Showboat family entertainment hub in Atlantic City

A major expansion is coming to Atlantic City’s Showboat Resort, now a family entertainment destination, with the help of more than $4 million in newly approved funding by the state.

Finance & Capital Markets
LMXD, MCI and Newark Museum secure $94 million in financing for arts campus project

A development team has closed on $94 million in financing for a plan to bring 250 apartments, retail space and a new gallery to the Newark Museum of Art’s campus on Central Avenue.

Hospitality & Tourism
Developer eyes Q1 groundbreaking for Monopoly-inspired ‘Top Hat’ hotel in Atlantic City

A new boutique hotel with a distinctive Monopoly-inspired design is coming to Atlantic City under a project that could break ground in the months ahead.

Government & Public Policy
Trenton to acquire vacant hotel with $4 million grant, one of 12 approved under EDA program

State officials have approved a $4 million grant to help the City of Trenton acquire a vacant hotel property that’s slated to be redeveloped under a proposed mixed-used project.

Finance & Capital Markets
Kennedy Funding provides $1.5 million loan to expand Hudson Valley events venue

The owner of an event space in New York’s Hudson Valley is expanding the venue with the help of a nearly $1.5 million loan from New Jersey-based Kennedy Funding.

Hospitality & Tourism
Connell breaks ground on 60,000 sq. ft. dining, entertainment building at The Park in Berkeley Heights (SLIDESHOW)

The Connell Co. has started construction on a 60,000-square-foot entertainment building that will serve as a focal point of its redeveloped business campus in Berkeley Heights.

Hospitality & Tourism
Sanzari completes major update of Glenpointe Marriott meeting, event space (SLIDESHOW)

Alfred Sanzari Enterprises has unveiled its multimillion-dollar update of the Glenpointe Marriott’s meeting and event space, the latest enhancement of its flagship campus in Teaneck.

Office
Cresa: New Jersey Brain and Spine leases 16,000 sq. ft. at Onyx-owned building in Paramus

A top neurosurgery practice has taken more than 16,000 square feet at a well-known office building in Paramus, brokers with Cresa New Jersey announced Wednesday.