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
JLL: Developer lands $49 million in debt, equity for 150-unit rental project in Elmwood Park

The firm behind a 150-unit, two-building multifamily development in Elmwood Park has secured $49 million in construction financing and equity for the project, brokers with JLL announced Thursday.

Residential & Mixed Use
Buyer wanted for Hoboken development site approved for 60 luxury rentals, CBRE says

A development site in Hoboken is on the market for sale with approvals in place for a seven-story, 60-unit luxury apartment building with street-level retail space.

Deals
Fidelco, parking operator ink 4.5-acre lease near Newark Airport, Blau & Berg says

A parking lot operator has leased nearly five acres adjacent to Newark Liberty International Airport, in a newly announced deal by The Blau & Berg Co.

Residential & Mixed Use
Larken near full occupancy across 2,500-unit multifamily portfolio after strong 2023

Larken Associates is eyeing continued growth for its residential platform after a strong year of leasing activity across its existing portfolio of some 2,500 apartments.

Top News
Remembering Ed McManimon, venerated attorney and co-founder of influential firm

McManimon, Scotland & Baumann LLC is mourning the loss of Ed McManimon, a founder of the Roseland-based law firm and an influential figure in redevelopment and public finance.

Cover Story
Downtown demand: Developer aims to bring highly coveted, high-end office space to Montclair business district

BDP Holdings has unveiled plans to bring new high-end office space to Montclair as part of a 130,000-square-foot ground-up project, seeking to capture the growing demand for space in downtowns that are easily accessed by the state’s skilled suburban labor pool.

Residential & Mixed Use
EDA pledges $200 million Aspire tax credit for mixed-use ‘NJPAC District’ project in Newark

A sweeping plan to expand the New Jersey Performing Arts Center campus in Newark has secured a 10-year, $200 million tax credit award under the state’s Aspire program, in a key step for a project that would include 350 apartments and new commercial and community spaces.

Health Care & Education
Lee & Associates: Bridgewater medical office, surgery center asset fetches $10.5 million

A local operator has acquired a medical office and surgery center property in Bridgewater for $10.5 million, brokers with Lee & Associates New Jersey announced Wednesday.

Retail
Tokarski Millemann spearheads redesign, expansion of Lakewood Mazda dealership

An auto dealer has unveiled an expanded and updated sales and showroom facility in Lakewood as part of a project designed by Tokarski Millemann Architects.

Retail
Mexican eatery takes 900 sq. ft. at Pine Brook Plaza in Montville, Azarian says

A new Mexican restaurant has come to Montville after leasing space at a Route 46 shopping center, in a newly announced transaction by Azarian Realty Co.