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
Norman’s Hallmark continues expansion, opens 6,200 sq. ft. store in Marlton

The nation’s largest independent owner of Gold Crown Hallmark stores has debuted a new location in Evesham Township, where it occupies space at a Route 73 shopping center.

Government & Public Policy
EDA approves $400 million Aspire tax credit for residential, commercial phases in Sayreville’s Riverton project

The state has approved a 10-year, $400 million tax credit award that will support key phases of Riverton, the massive project that could bring 6.5 million square feet of development to a once-contaminated, long-dormant waterfront property in Sayreville.

Residential & Mixed Use
Alpert Group breaks ground on 65-unit affordable senior housing project in West Orange

Construction is underway on a new 65-unit age- and income-restricted housing property in West Orange’s central business district.

Retail
Green Brook retail asset now fully leased after renovation, recent deals, Deluccia says

A nearly 13,000-square-foot retail center on Route 22 is now fully leased under new ownership and after a recent renovation, according to a brokerage team with Deluccia Commercial Group.

Community
Citizens Bank grants $10,000 to CIS nonprofit arm for financial literacy program for women

The nonprofit partner of Community Investment Strategies Inc. has secured a $10,000 grant from Citizens Bank to provide financial literacy education to women in the company’s portfolio.

Finance & Capital Markets
JLL: Organic food maker snags $23 million loan to acquire 209,000 sq. ft. facility in Logan

A food manufacturer has landed a $23 million acquisition loan for a nearly 210,000-square-foot warehouse and distribution center in Logan Township, brokers with JLL said Thursday.

Cover Story
Links and logistics: Inside the public-private partnership behind a 4 million sq. ft. industrial hub (and a new golf course)

A unique public-private partnership has taken shape in Old Bridge, where the developer of a new nine-building, 4.2 million-square-foot industrial park on Route 9 has also planned, funded and built an 18-hole public golf course in the township under an agreement with local officials.

Government & Public Policy
EDA to consider $400 million tax credit award for 6.5 million sq. ft. Riverton project in Sayreville

State officials are set to consider a 10-year, $400 million tax credit award that would help advance the massive but long-delayed redevelopment of the former National Lead property in Sayreville, where plans call for 6.5 million square feet of development across a mix of uses.

Residential & Mixed Use
Investors, city officials break ground on 477-unit West Side Square project in Jersey City

A development team has broken ground on a long-awaited project in Jersey City, where it’s slated to build nearly 500 new apartments and retail space that will help link the burgeoning Journal Square and West Side neighborhoods.

Industrial
NAIDB: Tenants combine for 28,000 sq. ft. to prelease new Piscataway industrial buildings

A developer has filled two new industrial buildings in Piscataway with commitments totaling nearly 28,000 square feet, in a set of deals arranged by NAI DiLeo-Bram & Co.