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
Montvale office building sold, slated for conversion to medical

The buyer of a 14,000-square-foot office building in Montvale plans to convert the property to medical space, following a sale arranged by NAI James E. Hanson.

Residential & Mixed Use
Developer launches $20 million affordable housing rehab in East Orange

A developer has kicked off a $20 million rehabilitation of a 180-unit former public housing complex in East Orange, under a partnership with the city’s housing authority.

Residential & Mixed Use
Prism debuts apartments at historic Edison complex in West Orange (SLIDESHOW)

Prism Capital Partners has taken the wraps off its new apartments at Edison Village, an industrial-to-residential conversion of the historic Thomas Edison complex in West Orange.

Industrial
Bridge, local officials hail start of 4 million sq. ft. industrial park in Warren County

Bridge Development Partners has broken ground on its largest project in New Jersey to date — a 4 million-square-foot logistics park spanning Phillipsburg and Lopatcong along Route 22.

Industrial
JLL: Bordentown business park, development site fetch $19 million

An investment group has sold a two-building office and warehouse complex in Bordentown, in a $19 million sale arranged by JLL.

Industrial
Bergenfield warehouse draws 100,000 sq. ft. in renewals

Two tenants have combined to lease more than 100,000 square feet at a Bergenfield industrial building, in a set of renewals announced recently by Team Resources Inc.

Finance & Capital Markets
Progress brokers $4.4 million loan for Irvington medical office sites

Progress Capital Advisors has secured more than $4 million for a client to refinance and upgrade two medical office properties in downtown Irvington.

Events
Home rule, redevelopment in focus at Rutgers forum

Commercial real estate leaders, policy experts and public officials gathered last month to tackle an all-too-familiar problem in New Jersey — rethinking the state’s suburban office parks and retail centers to position them for the economy of the future.

Government & Public Policy
Hoboken details revised hotel plan with $4.5 million in community givebacks, union labor

A developer seeking to build a new waterfront hotel in Hoboken has pledged $4.5 million in community investments, under a deal that city officials say could be a model for future projects.

Residential & Mixed Use
C&W marketing 135-unit rental portfolio in Woodbridge area

A seven-building, 135-unit apartment portfolio in Central New Jersey is on the market, Cushman & Wakefield announced, touting the potential for continued rent growth in properties that are less than five years old.