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.

Office
Law firm buys 6,000 sq. ft. office building in downtown Montclair, NAI Hanson says

A law practice has acquired a newly renovated, 6,000-square-foot office building in downtown Montclair, in a newly announced deal by NAI James E. Hanson.

Deals
Investor acquires 321-unit affordable housing tower in Camden, eyes $104 million rehab plan

Hudson Valley Property Group is planning a major preservation and rehabilitation of Northgate Apartments at 433 North 7th St. in Camden, with plans calling for site infrastructure upgrades, mechanical system replacements and many in-unit bathroom, kitchen and apartment safety improvements.…

Events
Rutgers unveils full lineup for high-profile symposium, case study on distressed assets

The lineup is set for next week’s Rutgers Center for Real Estate symposium on distressed property, where some two dozen industry experts will tackle the issue through the lens of a detailed case study.

Finance & Capital Markets
Reynolds secures $29 million bridge-to-perm loan for 103-unit Orange rental project

Reynolds Asset Management has landed a $28.5 million loan for its newly completed, 103-unit apartment building in Orange, in a deal arranged by JLL.

Residential & Mixed Use
Advance hits 75 percent leased milestone at 399-unit Harrison rental project

Advance Realty Investors has leased 75 percent of The Wyldes, the sprawling 399-unit luxury apartment property in Harrison that hit the market last summer.

Industrial
Ridgecut Road, Marcus Partners acquire 3.6-acre industrial site in South Plainfield

Ridgecut Road and Marcus Partners have acquired nearly four acres of low-coverage industrial property in South Plainfield, marking the firms’ second deal together in less than a year.

Retail
Upscale bowling, bocce concept Pinstripes set to open new 31,000 sq. ft. location at Garden State Plaza — its first in New Jersey

The newest experiential dining concept at Westfield Garden State Plaza in Paramus is just over two weeks from its long-awaited debut at the property.

Industrial
CVS takes 427,000 sq. ft. at new 86-acre logistics park in Jersey City

CVS has leased more than 427,000 square feet of new industrial space in Jersey City, becoming the latest tenant to commit to an 86-acre campus just north of Route 1&9.

Finance & Capital Markets
Newark: Developers eye office-to-residential project with $22 million Northwind Group loan

A joint venture has secured $22 million in financing for its plan to expand a Newark office building and repurpose it as a new 10-story, 92-unit multifamily property.

Professional Services
Brody, legendary New Jersey appraiser, joins Otteau Group

The Otteau Group Inc. has hired longtime appraiser and real estate industry veteran Jon Brody as a senior managing director with its Matawan-based team.