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.

Events
Greenbaum among CRE leaders to be honored at NAIOP gala

Arthur M. Greenbaum, a titan of New Jersey real estate law, will receive a lifetime achievement award and headline the list of honorees at NAIOP New Jersey’s annual gala this spring.

People
Multifamily brokerage announces promotions

Gebroe-Hammer Associates has promoted three of its top-producing brokers and one administrative professional to new executive management positions, the firm announced.

Finance & Capital Markets
Eastern Union secures $52M financing for rental acquisition

A rental community in Gloucester County has a new owner, following a $52.3 million financing deal orchestrated by Eastern Union Funding.

Office
Fort Lee office building near full occupancy after recent deals

A series of leases, renewals and expansions have accounted for more than 33,000 square feet of tenant activity at a 215,000-square-foot office building in Fort Lee, the property’s manager said.

Industrial
NAI Hanson brokers 97K sq. ft. industrial sale

Brokers with NAI James E. Hanson have arranged the sale of a 96,500-square-foot industrial building about 20 miles over New Jersey’s northern border, the firm said Thursday.

Deals
C&W: Highly trafficked North Jersey retail center trades for $19 million

A grocery-anchored shopping center just ahead of the Lincoln Tunnel has a new owner, following a $19 million investment sale brokered by Cushman & Wakefield.

Residential & Mixed Use
Construction underway at high-end rental project in Bayonne

Ingerman has broken ground on a planned 138-unit luxury rental community in Bayonne, where it hopes to be at the forefront of Hudson County’s next hot spot for development.

Retail
Upgrades to shopping center paying off for Onyx

Onyx Equities is touting the success of its value-add strategy at a Livingston retail center, where it has nearly doubled occupancy since taking over the property in 2012.

Residential & Mixed Use
Marcus & Millichap brokers Hudson County apartment sale

A seven-unit apartment property in Union City has changed hands for just over $1 million, with Marcus & Millichap representing both parties in the deal.

Office
Mack-Cali details portfolio makeover, with $745M in sales and $500M in acquisitions

With a goal of reshaping its footprint as a “totally class A portfolio,” Mack-Cali Realty Corp. has sold more than 35 of its office buildings since the start of 2016, the company said, reaping more than $700 million from properties that it deemed nonstrategic or underperforming.