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
Ridgefield office building changes hands in Cervelli-brokered deal

An end user has purchased a 4,500-square-foot office building in Ridgefield, according to a team with Cervelli Real Estate & Property Management.

Finance & Capital Markets
Englewood-based Kennedy Funding lends $5.1 million for Maryland winery deal

Kennedy Funding has closed a $5.1 million loan in connection with the sale of a single-family home on a 437-acre winery property in northeast Maryland.

Office
New Jersey office market ‘poised for better times’ after strong Q4, as flight to quality continues, reports say

A recent spike in leasing demand has boosted New Jersey’s office market to start the year, even as large blocks remain available amid corporate downsizing and concerns about the economy.

Features
Multifamily projects, public investments setting the stage for new-look downtown in Berkeley Heights

A spate of public and private investment is transforming the area around the train station in Berkeley Heights and allowing this small township on the western edge of Union County to reimagine a walkable and commuter-friendly downtown.

Office
JLL marketing high-end, 240,000 sq. ft. office building in Metropark after Siemens departure

The owner of a nearly 240,000-square-foot office building in Woodbridge has tapped JLL as its leasing agent, in what brokers say is a blank canvas for a corporate or life sciences user.

Industrial
C&W: Developers buy Hamilton parcel slated for 420,000 sq. ft. industrial project

A joint venture has purchased more than 48 acres in Hamilton with approvals to build a new 420,000-square-foot industrial facility, brokers with Cushman & Wakefield announced.

Retail
Urban Edge signs World Market to 19,000 sq. ft. lease for new Paramus location

Home décor chain World Market is coming to Bergen Town Center in Paramus, where it’s set to lease more than 19,000 square feet under a deal with Urban Edge Properties.

Professional Services
LMC touts 1 million sq. ft. in 2023 deal volume amid retailer demand, reinvestment trend

Sustained demand for modernized, well-located retail space remains a driving force for Levin Management Corp., fueling more than 1 million square feet in deal volume last year across the firm’s portfolio of client properties.

Health Care & Education
Sherman & Roylance: Buyers plans to renovate, revive West Orange assisted living facility

A private operator hopes to revitalize a shuttered assisted living facility in West Orange after acquiring the 53-bed property, according to a broker with Sherman & Roylance.

Professional Services
Kislak honors top brokers of 2023 at annual sales awards

The Kislak Co. Inc. has recognized three standout brokers in the residential and commercial space as part of its newly announced company sales awards.