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.

Retail
Valley Bank takes 2,800 sq. ft. in Norwood for new branch location, Goldstein Group says

Valley Bank is expanding in Bergen County after leasing 2,800 square feet for a new branch in Norwood, brokers with The Goldstein Group announced Monday.

Community
REDCOM supports United Passaic Organization with month-long employee coat drive

REDCOM Design & Construction has completed a coat drive in support of the United Passaic Organization, which serves low-income families in Passaic and other communities.

Residential & Mixed Use
New 51-unit rental building in Bound Brook fetches $15 million, in Veerman-brokered deal

A developer has sold a newly completed, 51-unit apartment building in Bound Brook for $15 million, in a deal arranged by Veerman Asset Management.

Health Care & Education
Hackensack Meridian breaks ground on new office, health center at mixed-use Metropark site

Construction is set to begin on nearly 250,000 square feet of new corporate and medical office space in Woodbridge, the future home of a Hackensack Meridian Health facility and the first piece of a distinctive mixed-use project at the Metropark train station.

Residential & Mixed Use
Carino joins NRP Group as vice president of development

The NRP Group has bolstered its team in the Northeast apartment sector with the addition of Patrick Carino as vice president of development.

Government & Public Policy
EDA set to begin info sessions for new Emerging Developers grant program

The state Economic Development Authority is kicking off a series of in-person and virtual information sessions to introduce its new $20 million Emerging Developers Fund.

Professional Services
DIGroup names Haas, Koehler to leadership team as associates

DIGroup Architecture has promoted both Kate Haas and Debbie Koehler to the associate level, making them the first non-architects at the 18-year-old firm to achieve the designation.

Finance & Capital Markets
Cronheim sources $6 million loan for 74-unit Hackensack rental property

The owner of a 74-unit apartment building in Hackensack has closed on $6 million in long-term financing for the property, in a deal arranged by Cronheim Mortgage.

Office
Two-story, 8,600 sq. ft. office building trades in Hammonton, Vantage Commercial says

A private investor has sold a nearly 8,600-square-foot office building in the Atlantic County town of Hammonton, brokers with Vantage Commercial announced last week.

Residential & Mixed Use
Boraie lands $90 million Aspire tax credit pledge for 333-unit Newark residential project

Boraie Development has secured a 10-year, $90 million tax credit award to build a 25-story, 333-unit luxury apartment tower along the Passaic River in downtown Newark.