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.

Professional Services
Cervelli promotes Negron to director of property management

Cervelli Real Estate & Property Management has promoted Veronica Negron to director of property management, the North Bergen-based firm announced last week.

Top News
Zimmel named leasing agent for Somerset, Ewing commercial properties

The owner of 235,000 square feet of commercial space in Somerset and Mercer counties has tapped Zimmel Associates as its leasing team for the properties.

Finance & Capital Markets
Newmark: Kushner lands $515 million refi for first phase of ‘The Journal’ in Jersey City

Kushner has secured a $515 million loan from Blackstone for the 966-unit first phase of The Journal, its high-profile multifamily project in Jersey City’s booming Journal Square district.

Residential & Mixed Use
Family sells 156-unit Somerville, New Brunswick portfolio after six decades, Berkadia says

The family owners of a combined 156 apartments in Somerville and New Brunswick have sold the portfolio in separate transactions, brokers with Berkadia announced.

People
Saxum’s Lubrano rises to vice president of acquisitions in firm’s fourth promotion of 2025

Saxum Real Estate has promoted Chris Lubrano to vice president of acquisitions, citing his role in the growth of the firm’s residential platform.

Retail
Electric vehicle dealer takes 6,900 sq. ft. on Route 10 in East Hanover, CBRE says

An auto dealership focused on luxury electric vehicles has leased nearly 6,900 square feet of highway retail space in East Hanover, in a newly announced deal by CBRE.

Residential & Mixed Use
Second phase of Jersey City rental project by Alpine, Fields Grade now 95 percent leased

Alpine Residential and Fields Grade have all but filled a new 87-unit rental building in Jersey City, touting continued demand for upscale apartments in the Bergen-Lafayette neighborhood.

Industrial
Advance, Greek lease 165,000 sq. ft. to 3PL firm in latest deal at Linden Logistics Center

Advance Realty Investors and Greek Real Estate Partners have leased 165,000 square feet in Linden to a third-party logistics firm, bringing another tenant to their recently completed, 4.1 million-square-foot industrial campus near the New Jersey Turnpike.

Industrial
Mapletree sells U.S. industrial portfolio (including 270,000 sq. ft. in Morris County) in $328 million deal with Faropoint

Mapletree Investments Pte Ltd has sold a 1.8 million-square-foot industrial portfolio, including more than 270,000 square feet in New Jersey, to Faropoint for $328 million.

Residential & Mixed Use
BNE opens 205-unit South Amboy rental project as waterfront redevelopment project advances

BNE Real Estate Group has opened the second phase of a sweeping redevelopment project in South Amboy, debuting another 205 upscale apartments and amenities along the Raritan Bay.