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.

Finance & Capital Markets
Spencer closes loans for Bridgewater medical office building, Newark housing project

The owner of a medical office building in Bridgewater has secured nearly $8 million in permanent financing, in one of two recent closings by Spencer Savings Bank.

Community
Health care, social causes among latest recipients of Sanzari Family Foundation grants

The Alfred N. Sanzari Family Foundation has awarded more than $50,000 to nine local nonprofits as part of its spring 2024 grant program.

Finance & Capital Markets
Hotel developer inks construction loan for 128-key Marriott property in Lyndhurst

A developer has secured a $14.6 million construction loan to build a 128-key extended-stay hotel in the Meadowlands, in a transaction arranged by Cronheim Mortgage.

Office
Bridgewater medical office building trades for $2.5 million, Marcus says

An investor has purchased a 16,000-square-foot medical office building in Bridgewater for nearly $2.5 million, brokers with Marcus & Millichap announced Thursday.

Professional Services
CBRE adds Parrillo, LiVecchi and Barnes to greater Philadelphia brokerage team

CBRE has bolstered its team in the greater Philadelphia region with the addition of veteran brokers Ashley Parrillo, Anthony LiVecchi and Peter Barnes.

Residential & Mixed Use
Bayport Funding closes $5.2 million acquisition, construction loan for Fort Lee rental project

A private developer has closed on $5.2 million in financing in connection with a planned seven-unit apartment building in Fort Lee, its lender announced Thursday.

Residential & Mixed Use
LeFrak quickly hits 50 percent leased milestone at new 385-unit high-rise in Newport

Renters are snapping up apartments at LeFrak’s newest building in Jersey City, a 385-unit high-rise at the northern end of the famed Newport neighborhood.

Residential & Mixed Use
Developer breaks ground on 282-unit condo project in Weehawken’s Port Imperial section

Construction is underway on what will be 282 luxury condominiums in Weehawken, in a rare new addition to the iconic Port Imperial district along the Hudson River.

Government & Public Policy
Judge tosses lawsuit challenging Scotch Plains’ downtown redevelopment plan

A state Superior Court judge has dismissed a lawsuit by professional services firm PS&S that sought to void a redevelopment plan adopted by Scotch Plains, following the town’s decision in 2021 to change developers for a key piece of its downtown.

Industrial
Denville flex industrial building trades for $2.5 million, C&W says

The longtime owner of a roughly 14,000-square-foot flex industrial building in Denville has sold the property, in a newly announced deal by Cushman & Wakefield.