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.

Government & Public Policy
Perth Amboy approves Kushner plan for 602 rentals, public amenities along city’s waterfront

Kushner and city officials in Perth Amboy have taken a key step in a plan to bring more than 600 apartments and retail space to a nearly 16-acre stretch along the Arthur Kill waterfront.

Industrial
Blau & Berg: East West Hauling signs 49,000 sq. ft. lease at Harrison truck terminal

A logistics and transportation firm has leased more than 49,000 square feet at a trucking terminal in Harrison, in a newly announced deal by The Blau & Berg Co.

Finance & Capital Markets
BankUnited inks $50 million in loans for KPR shopping center deals in Voorhees, Monroe

BankUnited Inc. has closed on two loans totaling nearly $50 million to allow KPR Centers to acquire a New Jersey shopping center and refinance a second in the borrower’s portfolio.

Finance & Capital Markets
Office-to-residential project with 40 units in Newark refis for $11 million, Eastern Union says

A developer has secured nearly $11 million in financing for a project that will convert an office building in Newark into 40 apartments, tenant amenities and commercial space.

Top News
Remembering Justin Gingeleskie, KRE Group’s longtime director of leasing, ‘a kind person and a true gentleman’

KRE Group and the Kushner family are mourning the loss of Justin Gingeleskie, its longtime director of leasing and a highly respected member of the state’s commercial real estate industry.

Office
JCP&L takes 58,000 sq. ft. at Tabor Road office building in Morris Plains

JCP&L has found a new headquarters in the region after agreeing to lease some 58,000 square feet in Morris Plains, marking the latest addition to a former Honeywell International campus.

Health Care
Concierge medical practice takes 1,100 sq. ft. in West Orange, NAI Hanson says

A concierge medical practice has leased more than 1,100 square feet of medical office space in West Orange, brokers with NAI James E. Hanson announced Thursday.

Industrial
WCRE: Restoration business buys 1,800 sq. ft. flex industrial condo in Egg Harbor Twp.

A piece of a flex industrial property in Egg Harbor Township has changed hands as part of a newly announced condominium sale by Wolf Commercial Real Estate.

Industrial
MLB Network leases 207,000 sq. ft. at landmark Crow Holdings project in Elmwood Park

Crow Holdings Development has secured a tenant for its new 207,000-square-foot industrial building in Elmwood Park, announcing a lease with MLB Network that will bring the broadcast and content platform to the high-profile project along Interstate 80.

Professional Services
CBRE promotes Forcello to New Jersey market leader, senior managing director

Will Forcello has taken the reins as CBRE’s market leader in New Jersey, assuming the post after serving in an interim role since late last summer.