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
Bank of America expanding to 548,000 sq. ft. at Jersey City’s Newport Tower

Bank of America has leased nearly 550,000 square feet along the Jersey City waterfront, in an expansion that marks one of New Jersey’s largest office deals in recent memory.

Office
SJP tops out new Sanofi office building in Morristown, eyeing early 2025 delivery

Sanofi’s new 260,000-square-foot office building in downtown Morristown is on track to open early next year after the recent completion of vertical construction by SJP Properties.

Top News
NJBA installs Tantleff as board chair, pledging continued focus on housing affordability

The New Jersey Builders Association has installed Debra Tantleff as its new board chair, tapping a key figure in the industry as it prepares for a new year of advocacy and education for thousands of professionals involved in housing construction.

Finance & Capital Markets
Prism lands $54 million refi for mixed-use redevelopment near Dunellen train station

Prism Capital Partners has secured nearly $54 million in fixed-rate financing for The Nell, a development that has brought new apartments, townhomes and retail space to Dunellen.

Office
Occupancy at Bell Works surges to 99 percent as landmark property marks 10th anniversary

The landmark Bell Works complex in Holmdel is all but fully leased after a flurry of activity in 2023 involving nearly two dozen companies.

Industrial
Liu joins Cushman industrial team in New Jersey, eyeing 3PL clients

Veteran industrial broker Jimo Liu has joined Cushman & Wakefield as an executive managing director with its New Jersey team.

Residential & Mixed Use
‘Mildred’s Bridge’ apartments to support prisoner re-entry in Newark — while honoring longtime city council president

A new apartment building for prisoners who are re-entering the community is coming to Newark, one that will honor one of the city’s most revered and trailblazing public servants.

Government & Public Policy
Murphy signs law to revive unused liquor licenses, ease restrictions on craft breweries

Gov. Phil Murphy has signed a bill to update the state’s nearly century-old liquor license laws, seeking to activate nearly 1,400 dormant retail licenses and expand the supply of an asset that many see as critical to economic development.

Finance & Capital Markets
Seagis lands $122 million loan for three-state, 1.1 million sq. ft. industrial portfolio, JLL says

Seagis Property Group LP has snagged $122 million in financing in connection with more than 1 million square feet of industrial space in New Jersey, New York and Florida.

People
Bergman promotes Rand to chief investment officer

Bergman Real Estate Group has promoted Brian Rand to chief investment officer, announcing the move less than a year and a half after his arrival at the Woodbridge-based firm.