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.

Retail
Blackstone buys majority stake in Jersey’s Mikes in deal reportedly worth $8 billion

Blackstone is acquiring a majority stake in Jersey Mike’s Subs, reportedly for some $8 billion, in a move aimed at continuing the Manasquan-based sandwich chain’s rapid growth.

Office
Accordia buys Warren medical office campus for second time, eyeing major upgrades

Accordia has reacquired a medical office campus in Warren that it sold nearly a decade ago, with plans to complete a major update of the 57,000-square-foot property off Interstate 78.

Retail
Atlantic Coastal: ALBI Properties adds 20,000 sq. ft. Clifton retail property for $4.4 million

An investor has acquired nearly 20,000 square feet of highway retail space in Clifton for $4.4 million, in a deal arranged by Atlantic Coastal Real Estate LLC.

Health Care & Education
Veterinary group takes 5,300 sq. ft. at historic Montclair building, Sheldon Gross says

A veterinary practice has leased around 5,250 square feet within a former American Red Cross location in Montclair, brokers with Sheldon Gross Realty announced Tuesday.

Office
R+B: Work meets culture at new MTL office in Roseland, where accounting firm’s extensive art collection is on full display (SLIDESHOW)

Accounting firm Meisel, Tuteur & Lewis PC has opened the doors to its new 22,000-square-foot headquarters in Roseland, in a project designed by architects with Rotwein+Blake.

Industrial
Developers, business groups launch ‘Circulate NJ’ coalition to tout logistics industry amid pushback to warehouse projects

Commercial real estate and business leaders have a launched new coalition to promote the benefits of New Jersey’s logistics sector and defend against rhetoric that has stalled a growing number of warehouse development projects in recent years.

Industrial
Altman JV acquires Hamilton tract slated for 171,000 sq. ft. warehouse

Development firm Altman has lined up its second New Jersey project in less than a month, acquiring a parcel in Hamilton that’s slated for nearly 171,000 square feet of new logistics space.

Finance & Capital Markets
PGIM inks $129 million senior loan to refi 1.2 million sq. ft. Cinnaminson warehouse project

PGIM Real Estate has closed more than $129 million in financing to the developer of a new 1.2 million-square-foot industrial property in Cinnaminson, the company announced Monday.

Office
Interstate Waste Services adds 30,000 sq. ft. in latest expansion at Sanzari’s Glenpointe campus

A waste collection and recycling firm has expanded by nearly 30,000 square feet at Alfred Sanzari Enterprises’ Glenpointe campus in Teaneck, the real estate company said Monday.

Industrial
Tire business takes 6,500 sq. ft. in Roselle industrial deal, BRC says

A tire shop has leased 6,500 square feet at an industrial site in Roselle, brokers with Bussel Realty Corp. announced Monday.