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
Brown joins IRG as vice president, director for Pearl River innovation campus

The owner of a 2 million-square-foot research campus just north of New Jersey has tapped commercial real estate veteran Greg Brown as the property’s top executive.

Professional Services
Veteran broker Yamaguchi, expert in multinational clients, joins JLL’s New Jersey team

JLL has strengthened its New Jersey brokerage team with the addition of Naoki Yamaguchi as a vice president.

Top News
Reformation, eco-conscious fashion brand, opens in Short Hills after buildout by JRM

JRM Construction Management has completed its buildout of a new Reformation store at The Mall at Short Hills, helping to support the sustainable fashion brand’s expansion in New Jersey.

Retail
Former drive-in movie site in Wayne trades for $1.1 million, CBRE says

A private investor has purchased a 1.6-acre development site in Wayne for $1.1 million, in a newly announced deal by CBRE.

Office
Marcus: Investor buys historic commercial building in downtown Westfield for $5 million

A historic commercial property across from the Westfield train station has changed hands for $5 million, brokers with Marcus & Millichap announced Wednesday.

Residential & Mixed Use
Taurasi Group nears launch of 110 luxury condos at historic Hoboken factory building

A collection of 110 luxury condominiums will soon hit the market in Hoboken, bringing new life to a historic industrial property at the southern edge of the city.

Residential & Mixed Use
SJP, Claremont eye groundbreaking for 444-unit rental tower at historic Jersey City church site

SJP Properties, Claremont Development and Battery Global Advisors are set to begin construction on a new 444-unit luxury rental tower in Jersey City, having secured joint venture equity and financing in connection with the project.

Finance & Capital Markets
CBRE: Accordia scores $54 million in financing, JV equity for South Carolina industrial deal

Accordia has landed $36.9 million in financing and $17 million in joint venture equity for its recent acquisition of a South Carolina industrial park, in a set of deals arranged by CBRE.

Industrial
Resource Realty inks 53,000 sq. ft. industrial lease near Route 3 in Clifton

A private industrial user has leased nearly 53,000 square feet in Clifton, according to a brokerage team with Resource Realty of Northern New Jersey.

Residential & Mixed Use
Sharbell debuts 20 townhomes as final piece of Montgomery project

Sharbell Development Corp. has unveiled 20 new townhome-style condominiums in Somerset County, marking the completion of a project just west of Route 206.