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.

Office
Mack-Cali rejects $2.4 billion offer for office holdings, faces attempted board takeover

Mack-Cali Realty Corp. has turned down an offer of more than $2.4 billion for its top waterfront and suburban office buildings, citing a “grossly inadequate” valuation from a group that is now moving to gain a majority position on its board.

Office
Colliers tapped as leasing agent for Newark office tower

The owner of a prominent, 22-story office building in downtown Newark has named Colliers International as its leasing agent.

Events
NAIOP reveals deal of the year finalists for upcoming gala

NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.

Retail
Goldstein Group inks new Sherwin Williams store in Bernardsville

A new Sherwin Williams location has opened in Somerset County, following a newly announced transaction by The Goldstein Group.

Retail
Restaurant operator buys Collingswood site, eyes fourth New Jersey location

A restaurant owner with three locations in New Jersey has set its sights on a fourth, acquiring a 2,000-square-foot property in Collingswood.

Government & Public Policy
Sweeney, top Assembly official offer support for renewing state incentive programs

State Senate President Steve Sweeney last week came to the defense of New Jersey’s use of tax incentives — a recent target of Gov. Phil Murphy’s administration — while pledging to find a solution to extend and update the programs by the time they sunset on June 30.

Office
CBRE completes sale of Toys R Us headquarters campus in Wayne

The owners of the defunct Toys R Us chain have sold the retailer’s former 621,000-square-foot corporate headquarters in Wayne, brokers with CBRE announced.

Finance & Capital Markets
Ex-NFL receiver, Amboy Bank ink $51 million loan for Bordentown development

Amboy Bank has closed on some $51 million in financing to help a former NFL player develop more than 400,000 square feet of retail and medical office space in Bordentown.

Residential & Mixed Use
Kislak: Salem County rental complex sells for $14.3 million

A nearly 200-unit apartment complex in Salem County has changed hands for the second time in less than two years, following a $14.3 million deal brokered by The Kislak Co. Inc.

Office
Mertz announces promotions of two longtime office brokers

NAI Mertz has promoted two longtime industry leaders and brokers within its office division.