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.

Residential & Mixed Use
BridgeInvest, Birch Group ink $35 million acquisition loan for 147-unit Passaic rental property

A private lender has closed a nearly $35 million loan to finance The Birch Group’s acquisition of a newly opened, 147-unit multifamily property in Passaic.

People
Recine joins Accordia as principal, in development firm’s latest high-profile addition

Frank Recine, a prominent broker who spent a combined 20 years with JLL and Newmark’s New Jersey teams, has joined Fairfield-based Accordia as a principal.

Residential & Mixed Use
Newest Urby residential tower set to debut in Journal Square

The developer behind the Urby residential brand is set to unveil its latest project, a 317-unit apartment tower in Jersey City’s booming Journal Square neighborhood.

Professional Services
AKF Group — MEP engineering firm with New Jersey presence — joins WSP Global

Professional services firm WSP Global Inc. has acquired AKF Group LLC, a New York-based mechanical, electrical and plumbing firm with a significant footprint in New Jersey.

Industrial
BRC: Moving, storage company takes 54,000 sq. ft. in Millburn

A moving company has leased a nearly 54,000-square-foot industrial building in Millburn, in a newly announced deal by Bussel Realty Corp.

Retail
Salon suites business leases 8,600 sq. ft. in Pequannock, Goldstein Group says

A salon suites business has taken nearly 8,600 square feet at a Route 23 shopping center in Pequannock, brokers with The Goldstein Group announced Monday.

Top News
JLL: Iconic former AT&T campus in Bedminster on the market for lease or sale to users in life sciences, technology

MetLife Investment Management has tapped JLL to reposition and market the nearly 1 million-square-foot former AT&T campus in Bedminster, providing what the brokerage team says is a prime opportunity for new users or a developer seeking to reinvent the property.

Events
United Way honors Central 9 Logistics Park, Kenvue headquarters while marking 25 years of support from New Jersey commercial real estate leaders

United Way of Northern New Jersey marked a milestone last week with its 25th annual Legacy Event, drawing some 400 attendees and raising $335,000 as the state’s commercial real estate sector continued its outsized, longstanding support of the organization.

Residential & Mixed Use
Kushner breaks ground on $500 million redevelopment of Monmouth Mall, eyeing 1,000 new rentals and open-air community hub

Kushner has broken ground on its long-awaited, closely watched redevelopment of the Monmouth Mall property in Eatontown, where plans call for 1,000 new apartments, a sweeping overhaul of the existing retail and an infusion of new public spaces for the community.

Residential & Mixed Use
Cervelli: Two-building, 38-unit rental portfolio in Bayonne trades for $6.5 million

A partnership has acquired a two-building, 38-unit apartment portfolio in Bayonne, in a deal arranged by Cervelli Real Estate and Property Management.