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
Teva, P3 Properties complete 345,000 sq. ft. lease in Parsippany, JLL says

New Jersey’s largest office lease of the year to date is official. Brokers with JLL this week announced the completion of Teva Pharmaceuticals USA Inc.’s 345,000-square-foot lease at 400 Interpace Pkwy. in Parsippany, known as MCCBLUE, under a deal with P3 Properties.

Office
SJP launches new division for third-party development, construction services

SJP Properties has announced the creation of a new division within the firm, formalizing its push to expand its third-party development and construction management business.

Retail
C&W: Hoboken, Montclair among first U.S. locations for maternity and baby clothier

A United Kingdom-based maternity and children’s clothing chain has picked New Jersey for two of its first U.S. stores, including locations in Hoboken and Montclair.

Government & Public Policy
NAIOP announces new membership, events director in New Jersey

NAIOP New Jersey has hired a new director of membership and special events.

Residential & Mixed Use
New 185-unit Englewood property hits leasing milestone

Developers are touting the response to a new luxury rental complex in downtown Englewood, where they have leased more than a third of its 185 units in just about six weeks.

Government & Public Policy
A fond farewell: Lizura reflects on 22 years with EDA, prepares for what comes next

Tim Lizura is now considering his next step after 22 years with Economic Development Authority, where he had become a fixture in New Jersey’s commercial real estate sector and a key player in the effort to revive cities such as Newark, Camden and New Brunswick.

Deals
C&W touts sale of Newark parking garage to Edison Properties

Edison Properties has added to its vast parking portfolio in downtown Newark with the acquisition of a 357-space garage, brokers with Cushman & Wakefield announced.

Finance & Capital Markets
Newark apartment owner refinances for $4.8 million, Progress says

The owner of an apartment building in Newark’s Weequahic neighborhood has refinanced for nearly $5 million, following a transaction brokered by Progress Capital Advisors.

Office
WCRE: Tech firm inks 15,400 sq. ft. in Marlton

A technology firm has leased more than 15,000 square feet in the Marlton business district, according to brokers with Wolf Commercial Real Estate.

Residential & Mixed Use
KRE Group acquires 304-unit Bayshore rental complex, Gebroe-Hammer says

Kushner Real Estate Group has purchased a 304-unit apartment complex in Monmouth County, in a $56 million transaction announced Thursday by Gebroe-Hammer Associates.