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.

Residential & Mixed Use
Marcus: New Jersey rental market to stay resilient despite crush of new supply in 2024

Sustained demand will likely stave off a major spike in apartment vacancy in northern New Jersey, Marcus & Millichap said in a new report, despite what’s slated to be the largest infusion of new supply in decades with more than 15,000 units coming online this year.

Professional Services
Langan makes 17 leadership promotions in Parsippany, Princeton offices

Langan has promoted more than 15 of its New Jersey-based professionals as part of a series of executive-level moves to start the year.

People
Saxum promotes five after banner year for investments, development

Saxum Real Estate has promoted five members of its Summit-based team, following a year in which it reached more than $1 billion in capitalizations.

Residential & Mixed Use
Fantin signs 100th lease at 297-unit Overlook Flats project in Journal Square

A developer has leased more than a third of a new 297-unit apartment building in Jersey City, one of the latest additions to the city’s booming Journal Square neighborhood.

Retail
Goldfish Swim School leases 10,000 sq. ft. for new Edison location, Pierson says

Goldfish Swim School has added a new location in New Jersey after taking more than 10,000 square feet along Route 1 in Edison, in a newly announced deal by Pierson Commercial.

Top News
JLL: More moves ahead for life sciences firms seeking higher-end space in New Jersey

New Jersey’s life sciences sector is poised for continued growth in 2024, following a year in which the industry was a key source of demand for commercial real estate owners.

Finance & Capital Markets
PGIM inks $41 million loan for rehab of 321-unit Camden affordable housing tower

PGIM Real Estate has provided nearly $41 million in financing to a developer that plans to revitalize a 321-unit affordable housing property in Camden, the lender announced.

People
Larken promotes Nascimento to executive vice president of marketing

Larken Associates has promoted Melissa Nascimento to executive vice president of marketing, recognizing her work during more than 20 years with the Branchburg-based firm.

Residential & Mixed Use
Seven-unit apartment building in Jersey City trades for $1.1 million, Marcus says

A local developer has sold a seven-unit apartment building in Jersey City for more than $1.1 million, in a newly announced deal by Marcus & Millichap.

Retail
NAI Hanson brokers sale of 3,500 sq. ft. auto repair center in Hackensack

A private investor has acquired a 3,500-square-foot full-service auto repair facility in Hackensack, brokers with NAI James E. Hanson announced last week.