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
Bennett Realty adds gas station, convenience store veteran Albanese

Jeffrey Albanese, a veteran of the gas station and convenience store industry, has joined Bennett Realty & Development as a director, in the latest addition to the Holmdel-based team.

Events
New World Group scores new wins for marketing at national, regional homebuilding shows

Creative agency New World Group is celebrating a series of recent awards for its work in the real estate sector in New Jersey and elsewhere in the region.

Finance & Capital Markets
C&W: LEG inks $54 million construction loan for 204,000 sq. ft. Belleville industrial project

Lincoln Equities Group has landed nearly $54 million in financing to build more than 204,000 square feet of new industrial space in Belleville, brokers with Cushman & Wakefield said.

Residential & Mixed Use
New 38-unit rental building in Journal Square fetches $13.7 million, Matthews says

An investor has acquired a newly completed, 38-unit apartment building in Jersey City’s Journal Square section, in a deal arranged by Matthews Real Estate Investment Services.

Professional Services
Lee & Associates New Jersey rebrands with key WBENC certification, highlighting female leadership

Lee & Associates New Jersey is now Lee & Associates – WBE LLC, having officially achieved its certification as a Woman-owned Business Enterprise.

Office
Music academy inks 7,000 sq. ft. renewal at West Windsor office building, Fennelly says

A music school that occupies more than 7,000 square feet of office space in West Windsor has renewed its lease, in a newly announced deal by Fennelly Associates.

Residential & Mixed Use
LeFrak seeking approvals for new high-rise at Newport’s northern end, its tallest yet in iconic Jersey City neighborhood

LeFrak is offering a new look at a proposed 529-unit luxury apartment tower in Jersey City, in a project that would be the tallest and northernmost building in its iconic Newport district along the Hudson River.

Events
NAIOP unveils Deal of the Year finalists for industrial, winners for office and mixed-use

NAIOP New Jersey has announced its Deal of the Year winners in the office and mixed-use categories as well as three finalists for the industrial sector, with plans to highlight the honorees at its 37th annual Commercial Real Estate Awards Gala in mid-May.

Hospitality & Tourism
SpringHill Suites by Marriott property changes hands in Voorhees, JLL says

A private operator has sold a SpringHill Suites by Marriott property in suburban Camden County, according to a brokerage team with JLL.

Office
NAI Hanson inks sale of 8,000 sq. ft. Succasunna office building

An investor has acquired a fully leased, 8,000-square-foot office building in the Succasunna section of Roxbury, in a newly announced deal by NAI James E. Hanson.