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.

Professional Services
MacKenzie, Apfel promoted to first vice president with CBRE investment sales team

CBRE has promoted two members of its investment sales team in the region, touting their role in growing the firm’s pipeline of multifamily deals.

Professional Services
Blau & Berg’s Kavanagh begins term as SIOR New Jersey chapter president

A longtime broker with The Blau & Berg Co. has taken over as New Jersey chapter president of the Society of Industrial and Office Realtors.

Finance & Capital Markets
Procida’s 100 Mile Fund achieves 2022 net income of $11.6 million, 9.5 percent return

The long-running 100 Mile Fund managed by Procida Funding LLC achieved net income in 2022 of $11.6 million, the firm announced, representing a net return to investors of 9.5 percent.

Residential & Mixed Use
Developer secures site plan approval for 150-unit rental project in New Brunswick

A developer has secured a key entitlement for a proposed 150-unit luxury apartment building in the heart of Rutgers University’s campus in downtown New Brunswick.

Residential & Mixed Use
Hampshire details plans, timeline for 70-unit rental project in Allendale

The Hampshire Cos. has unveiled plans for a new 70-unit apartment building in the Bergen County borough of Allendale.

Professional Services
Industrial broker Wisse named partner with Lee & Associates New Jersey

A veteran broker with Lee & Associates New Jersey is now a partner after earning his fourth promotion since 2016, when he joined the Elmwood Park-based team as an associate.

Retail
Marcus: Investor buys 138,000 sq. ft., grocery-anchored center in Vineland for $19 million

An investor has sold a grocery-anchored shopping center in Vineland for $19.3 million, in a newly announced deal by Marcus & Millichap.

Finance & Capital Markets
JLL: Levin Properties refis ShopRite-anchored center in Woodbridge for $43 million

The owner of a ShopRite-anchored retail center in Woodbridge has refinanced the property for more than $43 million, according to a debt placement team with JLL.

People
Bazzani joins JDA Group as development, investment manager

JDA Group LLC has named a new development and investment manager, hiring a former member of Duke Realty Corp.’s New Jersey team to help support its growth.

Industrial
Charity Realty: NJIT affiliate takes 19,000 sq. ft. for new Morris County lab facility

The New Jersey Institute of Technology has leased nearly 19,000 square feet in Roxbury to develop a new multipurpose lab space, in a deal arranged by Charity Realty International LLC.