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
‘We are in the people business’ — Milanaik reflects on distinguished career as NAIOP gala honors top CRE projects and players

NAIOP New Jersey hosted its 38th annual Commercial Real Estate Awards Gala on Thursday, honoring five individuals and companies while unveiling five Deal of the Year award winners before a sold-out crowd of more than 750 registered attendees.

Professional Services
Lease by Resource Realty’s Consiglio, Peck ranked #18 on SIOR top 50 industrial deals of 2024

The Society of Industrial and Office Realtors has recognized Tom Consiglio and Scott Peck of Resource Realty of Northern New Jersey for their role in a major industrial lease in New York’s Orange County, including the deal in its Top 50 Industrial Transactions List of 2024.

Office
WCRE: Tenant takes 2,700 sq. ft. at Gloucester County office building

The owner of an office building in Gloucester County has added to its tenant roster with a new lease for more than 2,700 square feet, brokers with Wolf Commercial Real Estate said.

Finance & Capital Markets
JLL: LPC, Ullico ink $17 million financing deal for 139,000 sq. ft. Hamilton industrial building

A joint venture has secured $16.8 million in acquisition and bridge financing for a nearly 139,000-square-foot industrial building in Hamilton, in a deal arranged by JLL.

Residential & Mixed Use
Investors acquire nearly complete, 829-unit rental complex in Jersey City’s ‘SoHo West’

A high-profile investment group has acquired a three-phase, 829-unit luxury apartment complex in Jersey City that’s nearing full completion after more than five years of construction.

People
Legacy Real Estate Developers taps Feldman as president

Legacy Real Estate Developers has named Peter Feldman as its president, filling the role with a trusted executive from the affiliated Saddleback Real Estate Developers.

Industrial
CBRE Investment Management buys new 236,000 sq. ft. logistics park in Somerset

A developer has sold a new two-building, 236,000-square-foot industrial campus in the Somerset section of Franklin, in a newly announced deal by CBRE.

Residential & Mixed Use
Jersey City breaks ground on first phase of landmark Bayfront project with 80 percent affordable housing

A development team has broken ground on the first piece of Jersey City’s long-awaited Bayfront project, a key focal point in the city’s plan to expand its affordable housing stock.

Deals
Family sells 27-acre development site in Manalapan for $4.5 million, Kislak says

The longtime owners of a 27-acre development parcel in Manalapan have sold the property for $4.5 million, a brokerage team with The Kislak Co. Inc. announced this week.

Finance & Capital Markets
TAY Investments refis new 110-unit rental project in Jersey City for $36 million

TAY Investments has snagged a nearly $36 million loan to refinance a recently opened, 110-unit apartment property in Jersey City, according to a debt placement team with Berkadia.