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.

Government & Public Policy
NJAA names new assistant VP for government affairs

The New Jersey Apartment Association has added to its government affairs team with the hiring of a new assistant vice president, the organization announced Monday.

Retail
Hampshire sells 88,000 sq. ft. retail center in Mount Laurel

The Hampshire Cos. has sold a grocery-anchored shopping center in Mount Laurel, capping off a plan to find a buyer after acquiring it in 2012 and bringing the complex to full occupancy.

Industrial
Ridgefield development site on the market as cleanup nears completion

The site of former chemical factory on Route 46 in Ridgefield is up for sale, as its longtime owner nears the end of an environmental cleanup meant to pave the way for redevelopment.

Finance & Capital Markets
Procida closes $3 million bridge loan on Union County properties

Procida Funding & Advisors LLC has provided a $3 million bridge loan as part of a transaction secured by four light industrial properties totaling more than 27,000 square feet in Union County.

Office
Pagano Co. brokers lease with law firm in Glen Rock

A law firm is set to occupy 1,750 square feet at a Glen Rock office building, following a lease arranged by brokers with Pagano Co.

Government & Public Policy
EDA: Three NYC manufacturers eye a combined 193,000 sq. ft. in N.J.

Three manufacturers could be moving to New Jersey from New York City’s outer boroughs, following the approval of incentives for the firms by the state Economic Development Authority.

Hospitality & Tourism
Investors offer $225 million for failed Revel casino, report says

A private investment firm reportedly has offered $225 million to buy the shuttered Revel casino in Atlantic City, although the property’s current owner says no such offer has been made.

Residential & Mixed Use
HMFA, Walters Group unveil new 102-unit Toms River development

A developer and state officials have marked the opening of a new 102-unit, affordable housing community in Toms River that will be reserved for senior citizens.

Retail
LMC named leasing agent for shopping centers in Hudson, Hunterdon counties

Brokers with Levin Management Corp. have taken over leasing and management at shopping centers in Secaucus and Flemington, the retail real estate services firm said.

Industrial
Team Resources: Brooklyn firm expanding into Union County

A company that is expanding from Brooklyn will occupy 27,000 square feet at a Hillside industrial building, following a lease brokered by Team Resources Inc.