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
Avison Young brokers $37 million in financing for North Jersey development projects

Brokers with Avison Young have arranged nearly $37 million in financing for two multifamily and mixed-use projects in Essex and Hudson counties, the firm said.

Retail
Two more Kmart stores slated to close in N.J.

At least eight Kmart stores in New Jersey will among those to have closed this year, following an announcement on Thursday that parent company Sears Holdings Corp. would shutter additional locations beyond the lists unveiled earlier this year.

Office
Cleaning service hires executive to lead N.J. office

OpenWorks, a nationwide provider of franchise commercial cleaning services, has hired a former pharmaceutical sales executive to lead its new office in New Jersey.

Retail
Liquor store joins tenant roster at Woodbridge shopping center

A regional liquor store operator has expanded its footprint with the addition of a new 5,500-square-foot store at a shopping center along Route 1 & 9 in Woodbridge.

Government & Public Policy
Payment solutions firm commits to 90,000 sq. ft. HQ in Lawrenceville, EDA says

An invoicing and payment software firm will relocate within Mercer County to nearly 90,000 square foot in Lawrenceville, state officials said Wednesday, thanks in part to a 10-year, $12.9 million tax credit that was awarded to the business earlier this month.

Health Care & Education
Rowan developer unveils ‘centerpiece’ of $400 million campus project

A developer has taken the wraps off the largest piece of a mixed-use, $400 million project that has transformed Rowan University’s footprint in downtown Glassboro.

Finance & Capital Markets
HFF: Clifton industrial project refis for $23.35 million

HFF has arranged a $23.35 million refinancing for the developers that recently repositioned a 204,000-square-foot industrial building in Clifton, the firm announced this week.

Industrial
Colliers: Mount Laurel warehouse sells for $5.65 million

A South Jersey real estate firm has sold a 106,000-square-foot industrial building in Mount Laurel for $5.65 million, according to brokers with Colliers International Group.

Office
JLL report shows continued gaps in rents, vacancy between N.J. transit hubs and suburbs

Suburban office landlords who spruce up their buildings have seen tenants come calling, but continue to trail those offering space in urban locations and those served by mass transit.

Finance & Capital Markets
Bergen County rental complex refinances for $147 million

New York Life Real Estate has originated a nearly $147 million loan for an owner to refinance a 100-unit garden apartment complex in Bergen County, the company announced.