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
Cronheim sources $6 million loan for 74-unit Hackensack rental property

The owner of a 74-unit apartment building in Hackensack has closed on $6 million in long-term financing for the property, in a deal arranged by Cronheim Mortgage.

Office
Two-story, 8,600 sq. ft. office building trades in Hammonton, Vantage Commercial says

A private investor has sold a nearly 8,600-square-foot office building in the Atlantic County town of Hammonton, brokers with Vantage Commercial announced last week.

Residential & Mixed Use
Boraie lands $90 million Aspire tax credit pledge for 333-unit Newark residential project

Boraie Development has secured a 10-year, $90 million tax credit award to build a 25-story, 333-unit luxury apartment tower along the Passaic River in downtown Newark.

Office
Genmab secures $8.4 million Emerge tax credit for 135,000 sq. ft. expansion in Plainsboro

Global biotech firm Genmab is adding more than 135,000 square feet to its footprint in Plainsboro after being approved for a seven-year, $8.4 million tax credit package from the state Economic Development Authority.

Retail
Mixed-use building in Scotch Plains trades after renovation, Boniakowski says

A tenant at a newly renovated mixed-use building in Scotch Plains has acquired the property, according to The Boniakowski Commercial Real Estate Group.

Industrial
Brookfield taps Blau & Berg as leasing team for four-acre industrial site in Jersey City

Brookfield Properties has picked The Blau & Berg Co. to secure a tenant for a 4.2-acre industrial parcel in Jersey City.

Professional Services
Three from NAI Mertz honored as NAI Global top producers

Commercial real estate brokerage firm NAI Global has recognized Scott Mertz, Jonathan Klear and Fred Meyer of NAI Mertz as top producers for the organization.

Government & Public Policy
EDA approves $114 million tax credit for major HMH health care hub, apartments at Metropark

The state has pledged nearly $114 million in tax credits over 10 years to a project that would transform the Metropark train station in Woodbridge, where plans call for 235 apartments and nearly 250,000 square feet of office and medical space for Hackensack Meridian Health.

Roundtable
How is Gen Z influencing design or construction choices for new apartment buildings?

How is Gen Z influencing design or construction choices for new apartment buildings? We assembled a panel of industry experts to tackle this month’s question.

Residential & Mixed Use
Clinton apartment, retail property trades for $1 million, Kislak says

A private investor has acquired a nearly 5,200-square-foot apartment and retail property in Hunterdon County for $1.05 million, in a deal arranged by The Kislak Co. Inc.