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.

Residential & Mixed Use
Prime City breaks ground on two affordable housing projects in Orange

Development firm Prime City has started construction on two projects in Orange that will bring a combined 13 units of affordable housing to the municipality.

Government & Public Policy
Murphy picks DCA’s Suárez, head of local government services, as agency’s next chief

Gov. Phil Murphy has announced his choice to lead the state Department of Community Affairs after the death of Lt. Gov. Sheila Oliver, who had led the agency since taking office in 2018.

Residential & Mixed Use
New 45-unit rental building in Journal Square trades for $18 million, Marcus says

A developer has acquired a newly built, 45-unit apartment building in Jersey City’s Journal Square section for $17.7 million, in a deal arranged by Marcus & Millichap.

Professional Services
Bennett Realty adds retail specialist as vice president with Holmdel-based team

Bennett Realty & Development has hired a retail specialist as the latest addition to its Holmdel-based brokerage team.

Health Care & Education
Pain management practice takes 7,000 sq. ft. in Voorhees, Rose Commercial says

A pain management practice has found a new home after leasing 7,000 square feet of office space in Voorhees, brokers with Rose Commercial Real Estate announced.

Finance & Capital Markets
Private equity firm Northwind lends $35 million to upgrade 216-unit Newark apartment tower

By Joshua Burd The owner of a 216-unit apartment tower in Newark has snagged $35 million in financing for a major renovation of the building, in a deal originated by Northwind Group. Based in Manhattan, the real estate private equity…

Retail
Bergman, Capstone acquire 88,000 sq. ft. Cherry Hill retail center for $16.1 million

Bergman Real Estate Group and Capstone Realty Group USA have acquired a nearly 88,000-square-foot retail property in Cherry Hill for $16.1 million, the firms announced.

Top News
New homeless shelter opens in Jersey City under plan for new Claremont apartment tower

The new St. Lucy’s Shelter has opened its doors at 612 Grove St. in Jersey City, following a project by Arc Building Partners in conjunction with the Archdiocese of Newark. — Courtesy: ARC By Joshua Burd Arc Building Partners has…

Office
Silverman Group sells 18,000 sq. ft. medical office building in Florham Park, C&W says

The Silverman Group has shed another Morris County office building with its sale of an 18,000-square-foot property in Florham Park, in a deal arranged by Cushman & Wakefield.

Retail
European-style coffee shop opens at Accurate’s new ‘Citizen Linden’ apartment building

Development firm Accurate has welcomed a coffee shop to the base of its new 234-unit luxury apartment building in Linden.