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.

People

Legacy Real Estate Developers taps Feldman as president

Legacy Real Estate Developers has named Peter Feldman as its president, filling the role with a trusted executive from the affiliated Saddleback Real Estate Developers.

Industrial

CBRE Investment Management buys new 236,000 sq. ft. logistics park in Somerset

A developer has sold a new two-building, 236,000-square-foot industrial campus in the Somerset section of Franklin, in a newly announced deal by CBRE.

Residential & Mixed Use

Jersey City breaks ground on first phase of landmark Bayfront project with 80 percent affordable housing

A development team has broken ground on the first piece of Jersey City’s long-awaited Bayfront project, a key focal point in the city’s plan to expand its affordable housing stock.

Deals

Family sells 27-acre development site in Manalapan for $4.5 million, Kislak says

The longtime owners of a 27-acre development parcel in Manalapan have sold the property for $4.5 million, a brokerage team with The Kislak Co. Inc. announced this week.

Finance & Capital Markets

TAY Investments refis new 110-unit rental project in Jersey City for $36 million

TAY Investments has snagged a nearly $36 million loan to refinance a recently opened, 110-unit apartment property in Jersey City, according to a debt placement team with Berkadia.

Office

Newmark: Kessler Rehab takes 125,000 sq. ft. at AEP-owned Harborside 6 in Jersey City

American Equity Partners has filled its top two floors at a Jersey City office tower after a recent 125,000-square-foot lease with Kessler Rehabilitation Center.

Netflix joins Murphys, other officials to break ground on massive Fort Monmouth studio campus

Demolition is underway for Netflix’s long-awaited, $1 billion project to create a 1.1 million-square-foot studio campus at the historic Fort Monmouth property.

Residential & Mixed Use

JLL seeking buyer for 62-unit rental building at historic Jersey City property

A piece of a landmark residential complex in Jersey City is on the market for sale, benefiting from a series of updates that have refreshed the property for a new crop of renters.

Professional Services

Seasoned brokers Capetta, Corpuel join Lee & Associates – WBE

Lee & Associates has expanded its industrial brokerage team in New Jersey with the additions of Gary Capetta as managing partner and Matthew Corpuel as partner.

Retail

Boot Barn leases 14,000 sq. ft. in Bridgewater for first Somerset County location, LMC says

Boot Barn has found its first location in Somerset County after taking space at a Bridgewater retail property, according to a leasing team with Levin Management Corp.