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.

Industrial
Banaszynski steps down as Heller president

Brian Banaszynski, the president of Heller Industrial Parks for the past five years, has left the Edison-based company.

Office
CBRE inks sale of 110,000 sq. ft. Princeton office complex to KABR

The KABR Group has acquired a two-building, 110,000-square-foot office complex in Princeton, CBRE announced, touting the buyer’s plans to reposition the property.

Industrial
Food distributor takes 125,000 sq. ft. at Duke project in Wood-Ridge

Duke Realty Corp. has preleased two-thirds of a new warehouse in Wood-Ridge, inking a nearly 125,000-square-foot lease with a specialty food distributor.

Residential & Mixed Use
Vertical construction underway for Journal Squared phase two (RENDERINGS)

The tallest tower within Kushner Real Estate Group’s three-building, 1,838-unit Journal Squared project in Jersey City is on the rise.

Finance & Capital Markets
Investors Bank touts $219 million in new commercial, multifamily loans

Investors Bank has inked a $36 million loan for a 144,000-square-foot warehouse in Elizabeth, the largest among 10 recent closings announced by the lender.

Professional Services
NAI Hanson hires new associate in Parsippany

NAI James E. Hanson has added to the sales team in its Parsippany office.

Office
Newmark inks 12,500 sq. ft. lease at creative office building in Union City

A marketing firm has leased 12,500 square feet at a creative professional building in Union City, brokers with Newmark Associates announced last week.

Office
CBRE: Shrinking deal size fuels ‘persistent softness’ in N.J. office market

Smaller deals are increasingly driving New Jersey’s officemarket, a new report finds, raising the prospect of unchanged overall vacancyand flat rents in the near term despite an otherwise healthy economy.

Finance & Capital Markets
Edison warehouse buyer lands $41.5 million acquisition loan, HFF says

549 Mill Road in Edison — Courtesy: HFF By Joshua Burd HFF has announced more than $41 million in acquisition financing for a joint venture’s recent purchase of a fully leased, 507,000-square-foot industrial building in Edison. Debt brokers with the…

Retail
South Orange restaurant, liquor license trade for $2.8 million

19 Valley St. in South Orange — Courtesy: The Kislak Co.Inc. By Joshua Burd An investor has acquired a well-known restaurant property and a liquor license in downtown South Orange, where a new operator is set to open following the…