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.

Health Care & Education
Developer buys 46,400 sq. ft. medical office building in Medford

A joint venture has paid $2.4 million for a 46,400-square-foot medical office building in Medford, where it’s planning a series of upgrades to help transition it from condominium units to a single-ownership structure.

Industrial
Key Properties renews 34,000 sq. ft. industrial lease in Carlstadt

A flooring specialties distributor has renewed its 34,000-square-foot lease at a Bergen County industrial building, according to landlord Key Properties LLC.

Industrial
Matrix, Amazon ink deal for 855,000 sq. ft. facility in Staten Island

Matrix Development Group’s move into Staten Island has led to a deal with Amazon, which announced it will open a new 855,000-square-fulfillment center at the developer’s new industrial complex in the New York City borough.

Office
Office REIT paying $313 million for Jersey City building

A real estate investment trust will pay $313 million for a Jersey City office tower, the company said, marking its second major acquisition in the state in two months.

Industrial
CBRE: 71,000 sq. ft. food facility trades in Carteret

A food production and distribution facility in Carteret has changed hands as part of a two-state, three-building sale-leaseback transaction announced Wednesday by CBRE.

Finance & Capital Markets
G.S. Wilcox secures $43.4 million loan for N.Y. apartment builder

G.S. Wilcox & Co. has arranged $43.4 million in financing for a newly built 270-unit apartment complex in Orange County, New York, the Morristown-based firm announced.

Residential & Mixed Use
Buyer sought for 896-unit Plainsboro community, HFF says

Another apartment community has hit the market in Plainsboro, an affluent suburb where investors have shown an appetite for value-add opportunities at garden-style properties.

Office
Tech-focused Ironside Newark project earns Wired Certified Platinum status

Edison Properties’ plan to build more than 450,000 feet of modern, loft-style office space at a historic Newark warehouse has earned the recognition of WiredScore, a rating service for technology and connectivity in commercial buildings.

Office
NAI Hanson: Brooklyn management firm moving to Bergen County

A property management firm is relocating from Brooklyn to a recently upgraded office building in Bergen County, following a 1,440-square-foot lease arranged by NAI James E. Hanson.

Retail
Acupuncture, kickboxing chains hire R.J. Brunelli as leasing agent

Two health and wellness operators have tapped R.J. Brunelli & Co. LLC to oversee their expansion in New Jersey, the Old Bridge-based retail brokerage said recently.