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.

Industrial

STRO, KRE partner again to acquire 19,000 sq. ft. Tampa warehouse

The STRO Cos. and Kushner Real Estate Group have partnered in another out-of-state deal, acquiring a 19,000-square-foot industrial property in Tampa, Florida.

Finance & Capital Markets

JLL: Namdar eyes 588-unit Journal Square tower with $152 million financing deal

Namdar Group has snagged $152 million in construction financing for a project that will bring nearly 600 new apartments to Jersey City’s booming Journal Square neighborhood.

Industrial

West Caldwell building to become warehouse, storage hub for 85°C Bakery Café, NAIDB says

A global bakery chain has acquired a 30,00-square-foot light industrial building in West Caldwell, in a transaction arranged by NAI DiLeo-Bram & Co.

NRBP taps Nixon to succeed retiring Hallock as CEO, president

The Newark Regional Business Partnership has found its next CEO and president, naming Ferlanda Fox Nixon to the post atop the networking and advocacy group.

Retail

Doren Development secures local approval for new Starbucks in Monmouth County

Doren Development has received approval to build another Starbucks in New Jersey, this time in Monmouth County, where it will redevelop a former bank branch off Route 36.

Residential & Mixed Use

Investor sells 15-unit Jersey City rental building for $2.3 million, Marcus says

A local private investor has sold a 15-unit apartment building in Jersey City for $2.3 million, in a newly announced deal by Marcus & Millichap.

Community

J&L, Newark councilman partner for ‘Build-a-Backpack’ event for Ironbound schools

Newark-based J&L Cos. joined forces with City Councilman Michael Silva last week to support students in the Ironbound neighborhood, collecting backpacks and classroom supplies to distribute ahead of the first day of school.

Finance & Capital Markets

Kushner lands Fortress, Rithm Capital construction loans totaling $415 million for Monmouth Mall redevelopment

Kushner has secured $415 million in construction financing for its landmark plan to transform the Monmouth Mall with a downsized, open-air retail footprint and the addition of 1,000 apartments and new commercial and community spaces.

Professional Services

Connell Foley’s Garcia named real estate, land use cochair alongside McCann

Veteran attorney George Garcia is the newest cochair of Connell Foley LLP’s real estate and land use team, joining W. Nevins McCann at the helm of the practice group.

Retail

Costco seeking new location at ex-Stop & Shop, Kmart property on Route 17 in Paramus

Costco has set its sights on Paramus, eyeing a site on Route 17 South where it would revitalize a property once home to Stop & Shop and Kmart.