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
New upscale retail, office space coming to Weichert campus in Morris Plains, RIPCO says

Construction is underway on a project that will transform the Weichert corporate campus in Morris Plains, starting with more than 120,000 square feet of new office and retail space.

Residential & Mixed Use
Urby breaks ground in Hoboken as residential brand expands in Hudson County

Urby has broken ground on a 16-story, 345-unit apartment tower in Hoboken that will mark the latest expansion of the distinctive residential brand.

Residential & Mixed Use
KSR: Developer buys Plainfield property for $4.25 million, eyeing major residential project

A developer has acquired the site of a vacant building in Plainfield that will become part of a planned residential project, in a deal arranged by Kassin Sabbagh Realty.

Industrial
Federal Business Centers, uniform company ink 6,400 sq. ft. lease in Edison, BRC says

An athletic uniform company has taken nearly 6,400 square feet of industrial space in Edison’s Raritan Center, brokers with Bussel Realty Corp. announced Wednesday.

Industrial
Investor buys 6,300 sq. ft. Newark warehouse in all-cash deal, QCRE says

A local investor has purchased a nearly 6,300-square-foot industrial property in Newark for $1 million, in a newly announced deal by The Quinas Cos. Inc.

Finance & Capital Markets
JLL sources $131 million loan for latest phases of Elmwood Park’s Riverwalk project

A developer has landed more than $131 million in senior financing for a four-building, 390-unit multifamily project in Elmwood Park, according to a debt placement team with JLL.

Industrial
Brookfield taps RRNNJ to lease spec 422,000 sq. ft. warehouse in Orange County

Brookfield Properties has named Resource Realty of Northern New Jersey as its leasing team for a new 422,000-square-foot speculative distribution center in New York’s Orange County.

Residential & Mixed Use
Developer sells 36-unit Old Bridge rental property for $12 million, CBRE says

EOM Realty has sold a newly built 36-unit apartment building in Old Bridge for more than $12 million, brokers with CBRE announced Tuesday.

Finance & Capital Markets
Cronheim: Bedrin snags $33 million refi for Hawthorne apartment, retail project

The developer of 118 luxury apartment units and retail space in Hawthorne has secured a nearly $33 million loan to refinance the project, in a deal arranged by Cronheim Mortgage.

Residential & Mixed Use
Cervelli: Buyer wanted for Palisades development site in Union City

A development site with views of Hoboken and the Manhattan skyline is on the market for sale in Union City, according to a team with Cervelli Real Estate & Property Management.