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.

Finance & Capital Markets
Raritan rental property refinances for $46 million

Meridian Capital Group has arranged a $46 million loan for a client to refinance a recently renovated, 224-unit apartment property in Somerset County.

Health Care & Education
Medical office building is Saxum’s latest acquisition in Madison

Saxum Real Estate has closed on its second property in Madison, acquiring a 19,700-square-foot medical office building in the borough’s downtown.

Policy Page
Office market conundrum: improving economic indicators amidst minimal absorption

Experts see a significant conundrum in the office market, as every economic indicator used to forecast absorption performed at or above the forecast level. Further, closely related macroeconomic variables — such as office-using employment — grew steadily, meaning that more office employees were added without much corresponding space leased over the previous six months. While the first quarter reading of just 1.3 million square feet absorbed may be a one-time anomaly, it cannot be ruled out that a structural shift in the office space market has occurred or is occurring.

Residential & Mixed Use
Cliffside Park condo developer names new marketing director

The developer of a 204-unit condominium building in Cliffside Park has hired a new director of marketing.

Retail
Jersey City tower adds coffee shop to retail mix

An area coffee shop chain is opening its next Jersey City location at Vantage, the 45-story luxury apartment tower in the city’s Liberty Harbor North neighborhood.

Residential & Mixed Use
SJP, local officials hail completion of second luxury tower in Fort Lee (SLIDESHOW)

A joint venture led by SJP Properties has formally unveiled its second 47-story apartment tower in Fort Lee, where local officials are hailing the project as a milestone decades in the making.

Office
Colliers inks 19,000 sq. ft. at new-look Florham Park complex

A joint venture is reaping the benefits of a plan to upgrade and add new amenities to a Florham Park office complex, where brokers have inked four new leases and a renewal.

Government & Public Policy
Lawmakers pass bill to create TOD office within NJ Transit

State lawmakers have approved a bill that would create an office of transit-oriented development within NJ Transit and require an annual inventory of the agency’s real estate holdings.

Office
JLL: Pharma tenant inks U.S. headquarters lease in Warren

A pharmaceutical firm is moving its U.S. headquarters to a newly renovated building in Warren, under a 14,280-square-foot lease announced Friday by JLL.

Office
Financial services firm leases 4,100 sq. ft. in Westmont, WCRE says

An office building in Camden County has reached full occupancy, following a 4,123-square-foot lease arranged by Wolf Commercial Real Estate.