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.

Government & Public Policy

EDA approves $11.5 million Aspire award for Somers Point affordable housing project

A developer is planning a 43-unit affordable housing project in Atlantic County with the help of a newly approved, $11.5 million tax credit under the state’s Aspire program.

Finance & Capital Markets

Developer lands $29 million in preferred equity for 568-unit rental portfolio in Bound Brook, Hackensack

The owner of a 568-unit apartment portfolio in Bound Brook and Hackensack has recapitalized the properties for $29 million, according to an advisory team with Berkadia.

Professional Services

Soltani joins Ware Malcomb as studio manager, interior architecture and design in New Jersey

Global design firm Ware Malcomb has hired Banafsheh Soltani as a studio manager with its interior architecture and design team in New Jersey.

Retail

New tenants arrive at new-look 87,000 sq. ft. shopping center in Marlton

The owner of an 87,000-square-foot shopping center in Burlington County is welcoming several new tenants as it unveils a series of newly completed renovations at the property.

Retail

Vantage Commercial named leasing team at 107,000 sq. ft. Galloway retail center

The new owner of a nearly 107,000-square-foot shopping center in Galloway has picked Vantage Commercial as the property’s leasing team.

Residential & Mixed Use

New 30-unit Fort Lee rental building trades for $17 million, Veerman says

A developer has sold a newly constructed, 30-unit apartment building in Fort Lee for $16.8 million, in a transaction arranged by Veerman Asset Management.

Features

Splendor’s growth in Red Bank, creative agency’s home since 2011, has gone hand in hand with robust commercial real estate practice

Commercial real estate clients have been critical to Splendor’s growth as a full-service creative agency, as have the firm’s own decisions about locating and growing its business in Red Bank.

People

Veteran real estate executive Kurtz named new Denholtz Properties CEO

Denholtz Properties has tapped Katie Kurtz as its new CEO, as longtime top executives Steven Denholtz and Stephen Cassidy move into new roles with the Red Bank-based firm.

NJPAC breaks ground on $336 million campus expansion with 350 rentals, arts education hub

Construction is set to begin on a long-awaited expansion of the New Jersey Performing Arts Center’s campus in Newark, part of a $336 million project that will bring 350 new apartments, office and retail space and a 58,000-square-foot arts education and community center.

Industrial

Sagard Real Estate adds 80,000 sq. ft. Avenel warehouse in $24 million deal

Sagard Real Estate has acquired more than 80,000 square feet of industrial space in Woodbridge for $24.1 million, in one of two newly announced deals by the investment advisory firm.