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.

Health Care & Education
Hackensack Meridian breaks ground on new office, health center at mixed-use Metropark site

Construction is set to begin on nearly 250,000 square feet of new corporate and medical office space in Woodbridge, the future home of a Hackensack Meridian Health facility and the first piece of a distinctive mixed-use project at the Metropark train station.

Residential & Mixed Use
Carino joins NRP Group as vice president of development

The NRP Group has bolstered its team in the Northeast apartment sector with the addition of Patrick Carino as vice president of development.

Government & Public Policy
EDA set to begin info sessions for new Emerging Developers grant program

The state Economic Development Authority is kicking off a series of in-person and virtual information sessions to introduce its new $20 million Emerging Developers Fund.

Professional Services
DIGroup names Haas, Koehler to leadership team as associates

DIGroup Architecture has promoted both Kate Haas and Debbie Koehler to the associate level, making them the first non-architects at the 18-year-old firm to achieve the designation.

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.