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.

Professional Services
Withum promotes CPAs in construction, real estate practices

Two accountants specializing in construction and commercial real estate are among nine senior managers who have been promoted to partner at WithumSmith+Brown PC, the firm announced.

Health Care & Education
WCRE: 28,000 sq. ft. school complex in South Jersey has new owner

Wolf Commercial Real Estate has brokered the sale of a 28,000-square-foot educational complex in Burlington County, the firm announced.

Industrial
Piscataway site sold for $57 million, setting up 2.4 million sq. ft. industrial development

A joint venture has sold a 228-acre former brownfield site in Piscataway for $57 million, following a three-year effort to secure approvals that would allow the parcel to be redeveloped as a 2.4 million-square-foot industrial park.

Residential & Mixed Use
Bijou, Intercontinental kick off latest Hoboken project

A joint venture has broken ground on a mixed-use project that will bring 424 new luxury apartments, a recreation center and a two-acre park to a swath of western Hoboken.

Retail
Developers break ground on Whole Foods-anchored center in Parsippany

Construction is underway at a new 150,000-square-foot retail center that is slated to bring a long-awaited new Whole Foods Market to Parsippany, the developers said Wednesday.

Office
Saddle Book office owner sells leasehold interest, Marcus & Millichap says

A private investor has paid more than $2.3 million to acquire a leasehold interest in an 83,160-square-foot office building in Saddle Brook, Marcus & Millichap said Wednesday.

Office
NAI Hanson: Buyer of Maplewood property plans conversion to medical space

A real estate firm has acquired an 11,500-square-foot office building in Maplewood that it now plans to repurpose as a headquarters medical facility, according to brokers involved in the deal.

Residential & Mixed Use
Dover project marks latest transit hub community for Capodagli

Construction is underway at the site of a planned 214-unit apartment complex in downtown Dover, where a developer is seeking to capitalize on a busy downtown and nearby mass transit.

Finance & Capital Markets
Financing aids sale of Central Jersey mobile home community

A firm has arranged more than $23 million in financing for a client to acquire a manufactured housing community less than 10 miles outside New Brunswick.

Retail
LMC: Sushi chain marks third location with Bayonne lease

A Bayonne retail property is now fully occupied after signing a lease with a Hudson County-based sushi chain, according to Levin Management Corp.