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
West New York rental building sells for $1.2 million

A nine-unit apartment building in West New York has changed hands among private investors, following a $1.2 million sale brokered by Marcus & Millichap.

Residential & Mixed Use
Joint venture breaks ground at Harrison project while unveiling another

Developers have marked dual milestones in their effort to transform Harrison’s waterfront, breaking ground on one luxury residential project and touting the completion of another.

Industrial
Elberon acquires 115,000 sq. ft. Elizabeth warehouse for $9 million

Elberon Development Group has expanded its footprint in Elizabeth, completing the $9 million acquisition of a soon-to-upgraded, 115,000-square-foot warehouse in the city.

Finance & Capital Markets
Eastern Union brokers $69.5 million refinancing for 11-building portfolio

An investor has refinanced an 11-building apartment portfolio in New Jersey and the Bronx, following more than $69 million in transactions arranged by Eastern Union Funding.

Professional Services
Longtime area consulting expert joins Colliers

Colliers International has hired a veteran real estate consultant in New Jersey and the region as a senior managing director with its New York Tri-State platform.

Office
SJP recapitalizes well-known Bridgewater office campus with P3RE

SJP Properties has teamed with a growing real estate investment firm to recapitalize a portion of Somerset Corporate Center, its 1.2 million-square-foot, Class A office campus in Bridgewater.

Office
NKF: Bank recommits to N.J. headquarters in East Brunswick

PNC Financial Services has renewed and extended the lease at its 90,000-square-foot New Jersey headquarters in East Brunswick, in a deal announced by Newmark Knight Frank.

Industrial
Developer breaks ground on Woodbridge distribution center

An investment manager has kicked off construction at more than 240,000 square feet of new industrial space in the Avenel section of Woodbridge, the firm said Tuesday.

Industrial
Tulfra sells West Caldwell industrial building for $7.8 million

Tulfra Real Estate has reaped nearly $8 million from the sale of a fully leased, 62,200-square-foot industrial building in West Caldwell, capitalizing on what it says is a growing demand for space in the Fairfield-area submarket.

Finance & Capital Markets
Mixed-use portfolio in Newark secures $3.7 million bridge loan, Procida says

Procida Funding has closed a $3.66 million bridge loan secured by a four-building, mixed-use portfolio across the street from Rutgers University in downtown Newark, the firm announced.