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.

Hospitality & Tourism
Hard Rock unveils design of new Atlantic City hotel and casino (RENDERINGS)

With two weeks until its grand opening, the Hard Rock Hotel & Casino Atlantic City has unveiled the design for the new state-of-the-art resort on the city’s iconic Boardwalk.

Office
C&W: Onyx, Garrison sell Bergen County office building

An investor has acquired a 108,000-square-foot office building in Rochelle Park, marking the second sale of the property in less than a year.

Finance & Capital Markets
HFF brokers $28.5 million refinance for I-80 industrial complex

The owner of a three-building, 443,030-square-foot warehouse complex in Mount Olive has refinanced the property for $28.5 million, brokers with HFF said Thursday.

Residential & Mixed Use
Long Branch, Asbury Park sales total $12.6 million, Kislak says

Four properties with a combined 100 apartments have changed hands in Long Branch and Asbury Park, following a set of transactions brokered by The Kislak Co. Inc.

Finance & Capital Markets
Owner of 135-unit Hackensack rental complex refis for $19 million, Meridian says

Meridian Capital Group has arranged a $19 million loan for a multifamily owner to refinance a 135-unit property in Hackensack.

Industrial
Duke fills last vacancy in New Jersey with Perth Amboy industrial lease

Duke Realty Corp. has leased 220,200 square feet in Perth Amboy to a furniture delivery and fulfillment service, bringing its recently acquired New Jersey portfolio to full occupancy.

Residential & Mixed Use
Montclair rental building earns LEED-silver status

A developer’s plan to create a sustainably designed, energy-efficient apartment building in downtown Montclair has been recognized by the U.S. Green Building Council.

Government & Public Policy
For apartment sector, uncertainty in Washington threatens policy priorities

Despite the benefits of last year’s federal tax reform, the apartment sector is grappling with uncertainty and unpredictability in Washington, D.C., raising questions about the future of affordable housing and other high-stakes policy issues. That was one key message from experts who gathered recently during the New Jersey Apartment Association’s annual conference and expo, which drew a registered crowd of more than 1,600 to the Atlantic City Convention Center.

Residential & Mixed Use
AvalonBay rebuilds, reopens Edgewater building after 2015 blaze

AvalonBay Communities has unveiled 240 new apartments in Edgewater, following a high-profile fire in 2015 that leveled half of its luxury rental complex in the borough.

Office
Colliers marketing 440,000 sq. ft. former BMS campus in Plainsboro

An investment manager has set out to reposition two buildings at the former Bristol-Myers Squibb headquarters campus in Plainsboro, while tapping Colliers International to market more than 400,000 square feet at the property.