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.

Food & Beverage
EXP: Manchanda Group buys Journal Square White Castle property for $13 million

An investor has acquired the site of a White Castle in Jersey City’s resurgent Journal Square neighborhood, in a deal arranged by EXP Realty.

Finance & Capital Markets
LMXD, MCI and Newark Museum secure $94 million in financing for arts campus project

A development team has closed on $94 million in financing for a plan to bring 250 apartments, retail space and a new gallery to the Newark Museum of Art’s campus on Central Avenue.

Deals
Zimmel: Denholtz sells 74,000 sq. ft. mixed-use portfolio in Clark commercial corridor

Denholtz Properties has sold a nearly 74,000-square-foot commercial portfolio in Clark for $18 million, in a newly announced deal by Zimmel Associates.

Deals
East Orange building with 5,000 sq. ft. office, workshop space sold in deal by KW Commercial

A commercial building that was the longtime home of a construction firm has changed hands in East Orange, in a newly announced deal by KW Commercial Realty.

Professional Services
Brotman, Caldwell among newly named members at Cole Schotz

Cole Schotz PC has elevated four attorneys to member of the firm, including Aaron S. Brotman of its construction and real estate teams and Inga C. Caldwell of its environmental group.

Government & Public Policy
Towns say they’ll appeal after judge rejects bid to halt state’s new affordable housing law

A coalition of two dozen towns vowed to appeal after a judge denied its request to pause the rollout of New Jersey’s new affordable housing law, in a move that allows state officials to proceed even as the court prepares for additional arguments in the case.

Government & Public Policy
Cautious optimism: Developers, advocates say new DCA guidance brings much-needed structure to affordable housing debate

The path is by no means clear, not even by the most optimistic accounts. But new guidelines on addressing New Jersey’s affordable housing deficit is a key starting point for builders and advocates as they mull the next phase of residential development in the state. Stakeholders have said as much in recent weeks, conveying cautious optimism even as they grapple with the financial hurdles, legal battles and political debates that have slowed housing production in the past.

Finance & Capital Markets
W&D: Nasser Freres inks $245 million loan to complete Journal Square rental tower

Nasser Freres has scored a $245 million construction loan to complete a 622-unit apartment tower in Jersey City, in a deal arranged by Walker & Dunlop.

Hospitality & Tourism
Developer eyes Q1 groundbreaking for Monopoly-inspired ‘Top Hat’ hotel in Atlantic City

A new boutique hotel with a distinctive Monopoly-inspired design is coming to Atlantic City under a project that could break ground in the months ahead.

Office
WCRE: Partnership sells 8,700 sq. ft. Cherry Hill office building

Investors have sold an 8,700-square-foot office building in Cherry Hill after having owned it for a decade, in a newly announced deal by Wolf Commercial Real Estate.