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
Industrial tenants delaying lease decisions amid capital concerns, despite demand for new space

Industrial tenants are still yearning for the types of modern, high-end logistics spaces that have flooded the market in recent years. When they may actually sign a lease is not nearly as certain.

Professional Services
NAIDB adds veteran broker Harrison as vice president

Retail leasing and sales specialist Jennifer Harrison has joined NAI DiLeo-Bram & Co., bringing more than 20 years of experience to the Woodbridge-based real estate services firm.

Industrial
Ridgecut Road adds 6.5-acre industrial service, outdoor storage asset in New Brunswick

Ridgecut Road has acquired an industrial service and outdoor storage property in New Brunswick, adding 6.5 acres with a combined 39,000 square feet across three buildings.

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.