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
Larken Associates’ Livingstone-Martinetti earns New Jersey real estate broker’s license

A member of Larken Associates’ commercial leasing team has earned her New Jersey real estate broker’s license, the Branchburg-based firm announced this week.

Residential & Mixed Use
JLL: Ridgefield Park site approved for 552-unit rental project on the market for sale

The owner of a Bergen County development site with approvals for more than 550 apartments is seeking a buyer for the property, in a newly announced offering by JLL.

Government & Public Policy
Assembly passes bill to disband COAH, recast blueprint for affordable housing obligations

The state Assembly has passed a bill that would revamp how New Jersey calculates each town’s affordable housing obligations, seeking to streamline a process that had languished in recent decades before being taken over by the state judiciary.

Government & Public Policy
EDA approves $25 million in grants for Newark, Atlantic City commercial corridors

State officials are sending more than $25 million in grant funds to support 13 businesses and commercial projects in the downtowns of Newark and Atlantic City.

Retail
Single-tenant retail property in downtown Westfield trades for $4.7 million, Marcus says

A local investor has acquired a nearly 36,000-square-foot retail property in downtown Westfield for $4.7 million, brokers with Marcus & Millichap announced Monday.

Industrial
Orthofeet takes 52,000 sq. ft. in Norwood to expand within Sanzari-owned portfolio

Alfred Sanzari Enterprises has signed a new lease in Norwood that will allow a tenant to expand to an adjacent building and add more than 52,000 square feet to its existing footprint.

Residential & Mixed Use
Walters’ Cornerstone at Branchburg achieves lease-up

Development firm Walters has leased up its new 150-unit age- and income-restricted multifamily property along a key throughfare in Somerset County.

Industrial
Denholtz unveils 41,000 sq. ft. Hamilton industrial building, taps Fennelly as leasing agent

Denholtz Properties has taken the wraps off more than 40,000 square feet of new warehouse space in Hamilton that it says will cater to small-bay industrial users.

Events
New Jersey Future, APA-NJ: Deadline near for planning and redevelopment forum topic proposals

With the annual New Jersey Planning and Redevelopment Conference less than four months away, organizers are seeking session proposals for the multiday program.

Finance & Capital Markets
G.S. Wilcox arranges $7 million refi for Union shopping center owner

The owner of a nearly 40,000-square-foot shopping center in Union Township has refinanced the property for $7 million, in a newly announced deal by G.S. Wilcox & Co.