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.

People
Value-add firm hires three, promotes one to support new growth

Accordia Realty Ventures has expanded its asset management team and promoted a longtime employee in order to handle its growing pipeline, the firm announced.

Industrial
Stro Cos. touts 210K sq. ft. in flex, industrial acquisitions

The Stro Cos. has started the year by growing its industrial portfolio in northern and central New Jersey, acquiring five buildings spanning more than 200,000 square feet.

Retail
Advance, Invesco get OK for office-to-retail redevelopment in Paramus

Local officials have cleared the way for Advance Realty and Invesco Real Estate to demolish an aging office building in Paramus, allowing the firms to develop a new 40,000-square-foot retail and dining complex in its place.

Retail
Retail brokers join CBRE as associates

CBRE Group Inc. has bolstered its retail brokerage team with the addition of two new associates.

Office
Withum unveils new sustainable office space in Morris County (PHOTOS)

WithumSmith+Brown PC has completed the relocation of more than 125 employees to a newly built-out 33,000-square-foot office space in Hanover, the accounting firm said Monday.

Finance & Capital Markets
With investor interest rising in Newark, JLL markets 22-story office tower for sale

The joint venture ownership of a Newark office tower has tapped JLL to find a buyer for the 423,000-square-foot property.

Residential & Mixed Use
C&W brokers sale of 68-unit apartment portfolio in Newark

The longtime owner of two Newark apartment buildings has sold them for $4.8 million, in a 68-unit trade brokered by Cushman & Wakefield’s Metropolitan Area Capital Markets Group.

Retail
Smoothie chain adds three N.J. stores, Goldstein Group says

A growing chain focused on smoothies and acai bowls is adding new locations in Essex and Ocean counties, following three transactions arranged by The Goldstein Group.

Finance & Capital Markets
Marcus & Millichap brokers $5.6 million loan for industrial sale

Marcus & Millichap has arranged $5.6 million in financing for the trade of a 161,000-square-foot warehouse building in Union County, the firm said Monday.

Retail
Developers, city officials unveil new supermarket in former Elizabeth food desert (SLIDESHOW)

A new 25,000-square-foot supermarket has opened its doors in what had been a food desert in a dense section of Elizabeth, anchoring a $17 million redevelopment project that relied on a medley of private and public funding sources.