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
Ironstate, Pegasus unveil renovated hotel in Harrison, marking property’s 10-year anniversary

The developers of an extended-stay hotel in Harrison — a key piece of the town’s redevelopment efforts — have marked its 10-year anniversary while debuting a multimillion-dollar renovation.

Finance & Capital Markets
Silver Arch closes $14.5 million bridge loan for Brooklyn condominium units

Silver Arch Capital Partners has completed a $14.5 million bridge loan to the developer of a condominium property in Brooklyn’s Williamsburg section.

Industrial
Heller, warehouse services firm ink 410,000 sq. ft. renewal in Edison

Heller Industrial Parks has signed a nearly 410,000-square-foot lease renewal in Edison with a provider of warehousing and distribution services, in a deal arranged by The Blau & Berg Co.

Health Care
JLL: Sunrise Senior Living sells four-year-old, 88-unit facility in Franklin Lakes

Sunrise Senior Living has sold an 88-unit assisted living and memory care facility in Franklin Lakes after debuting the property in 2021, brokers with JLL announced Tuesday.

Professional Services
Hudson Atlantic’s Favorito named vice president of multifamily sales

Hudson Atlantic has added to its leadership ranks after promoting broker Nick Favorito to vice president of multifamily sales.

People
Saxum promotes Caputo, construction industry veteran, to project executive

Saxum Real Estate has promoted Frank Caputo to project executive within the Summit-based firm’s development and construction team.

Industrial
Seagis leases 33,000 sq. ft. in newest deals at Carteret industrial building, BRC says

Seagis Property Group has secured a lease renewal and two new tenant commitments at a Carteret industrial building, in a set of deals arranged by Bussel Realty Corp.

Professional Services
DRG Architects acquires Vitetta, expanding footprint in Pennsylvania

DRG Architects is expanding westward with the acquisition of Vitetta, a practice with deep ties to Central Pennsylvania.

Residential & Mixed Use
Urban Edge to sell Bergen Town Center parcel slated for 456 apartments for $25 million

Urban Edge Properties is selling a piece of Bergen Town Center — its sprawling retail property in Paramus and Maywood — one that’s slated for redevelopment as more than 450 apartments.

Finance & Capital Markets
Namdar Group lands $32 million loan for multiple Journal Square projects, HKS says

A new project by Namdar Group would bring 1,151 apartments, 5,000 square feet of retail space and 26,000 square feet of office space to a 47-story tower on Lott Street in Jersey City. — Rendering courtesy: HKS Real Estate Advisors