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.

People
Veteran policy, planning expert Kennedy joins NAIOP New Jersey as part of CEO transition

Dan Kennedy has joined the leadership team of NAIOP New Jersey, marking the start of a transition period in which he’ll work alongside CEO Michael McGuinness before succeeding him at the helm of the commercial real estate development association.

Industrial
Dermody buys Gloucester development site for 214,000 sq. ft. industrial project, C&W says

Dermody Properties has acquired a Gloucester County development site with approvals in place to build more than 214,000 square feet of new industrial space.

Retail
ShopRite debuts at new-look Fair Lawn retail center, following deal arranged by RIPCO

A new ShopRite has opened its doors off Route 208 in Fair Lawn, where it anchors a redeveloped retail property owned by Crossroads Cos.

Residential & Mixed Use
Kislak inks sale of 32-unit Long Branch apartment building for $6.5 million

The site of a 32-unit apartment building in Long Branch has changed hands for $6.45 million, according to The Kislak Co. Inc., marking the second trade of the property in four years.

Retail
Newmark Associates: Investor adds 12,000 sq. ft. retail, office property in Mountain Lakes

A private investor has purchased a 12,000-square-foot retail and office property in Mountain Lakes, in a transaction arranged by Newmark Associates.

Top News
Indian biotech firm headed to Hopewell life sciences campus, eyes new manufacturing plant

A global biotech company is coming to New Jersey, with plans to open a new manufacturing plant near Princeton for its first location outside its home country of India.

Industrial
Treetop adds 245,000 sq. ft. flex portfolio in Wall with $41 million deal, CBRE says

Treetop Cos. has acquired more than 245,000 square feet of flex industrial space in Wall Township for $40.5 million, in a newly announced deal by CBRE.

Residential & Mixed Use
Kaplan unveils new 128-unit luxury rental complex in Toms River, its first in Ocean County

Kaplan Cos. has completed a new 128-unit luxury apartment complex in Toms River, helping to activate a site near one of the firm’s long-established shopping centers.

Finance & Capital Markets
JLL: S. Hekemian Group lands financing for retail, surgery center project in Montvale

The S. Hekemian Group has secured financing for a project that will bring more than 84,000 square feet of medical and retail space to a sweeping redevelopment site in Montvale.

Residential & Mixed Use
Russo welcomes project partners, local officials to new Orange apartments

Russo Development recently marked the opening of Essex & Crane, its new luxury apartment building in Orange, welcoming project partners and local officials to tour the 209-unit property.