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.

Residential & Mixed Use
Russo, Hornrock picked for ‘gateway’ project in Hackensack

Hackensack city officials have picked Hornrock Properties and Russo Development to transform a 4.3-acre parking lot into a mixed-use complex with 338 residential units and retail space.

Government & Public Policy
Business community mourns Franzini, state’s ‘greatest cheerleader and advocate’

Caren Franzini, who led the state’s Economic Development Authority for nearly 20 years and was among New Jersey’s most revered and well-respected business leaders, died Wednesday.

Finance & Capital Markets
Investor buys Essex County apartments for $130 million

An investment firm has acquired a 360-unit Roseland apartment complex for $130 million, following a financing deal arranged by capital markets brokers with JLL.

Office
Office owner touts tenant activity, campus upgrades

Vision Real Estate Partners leased 120,000 square feet across its northern and central New Jersey portfolio in the second half of 2016, while completing major upgrades at two of its properties.

Retail
LMC tapped to manage grocery-anchored retail centers

The owner of shopping centers in Warren and Monmouth counties has hired Levin Management Corp. to serve as its exclusive managing agent for the properties, the firm said Wednesday.

Industrial
Denholtz: Marble company renews flex space in Somerset County

Denholtz Associates has inked a lease renewal with a marble supplier for more than 50,000 square feet at a flex-industrial park in Bridgewater and Bound Brook, the firm announced.

Residential & Mixed Use
Redevelopment to bring new commercial space, housing to Red Bank

A developer is on the verge of beginning work at a redevelopment site in Red Bank, where it plans to rehabilitate a commercial building and build two three-story residential properties.

Residential & Mixed Use
After 65 years, Lodi apartment complex owner sells for $100M

The longtime owner of a 642-unit garden apartment complex in Bergen County has sold the property for $100 million, in a sale brokered by Gebroe-Hammer Associates.

Industrial
JLL picked to lease new Bergen County industrial site

Bridge Development Partners LLC has selected JLL to market and lease a nearly 200,000-square-foot warehouse and distribution facility that it is building in Wood-Ridge.

Professional Services
Design firm lands new planning role with Belmar

Borough officials in Belmar have tapped DMR Architects to serve as its municipal planner, building on the firm’s existing role as the architect for the Jersey Shore town.