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.

Government & Public Policy

EDA unveils grant program for development, art projects in transit-served urban areas

The state Economic Development Authority has launched a grant program aimed at sparking new development and art projects in cities that are served by mass transit but saw a drop in commuter foot traffic during the COVID-19 pandemic.

Retail

Vantage Commercial: Floral studio takes final space at Cherry Hill shopping center

A flower shop has signed a lease to bring a Cherry Hill shopping center to full occupancy, brokers with Vantage Commercial announced Thursday.

Finance & Capital Markets

Investor snags $10 million acquisition loan for 125,000 sq. ft. flex, office building in Whippany

The buyer of more than 125,000 square feet of flex warehouse and office space in Hanover has secured $10 million in financing for the deal, according to a team with Progress Capital.

Site of Newark’s famed Iberia restaurant sold, slated for 2,500-unit mixed-use redevelopment

A development group has acquired the site of Newark’s famed Iberia Tavern & Restaurant and several surrounding lots, where it now hopes to build more than 2,000 residential units and a bustling restaurant row in the heart of the city’s Ironbound district.

Residential & Mixed Use

Pennrose debuts new affordable housing in Glassboro for seniors, residents with disabilities

Pennrose has unveiled 64 new apartments in Glassboro for seniors and individuals with disabilities, following its $20 million redevelopment of a former public housing complex.

Professional Services

Fennelly Associates’ Dintrone earns SIOR designation

A veteran broker with Fennelly Associates has joined the ranks of the Society of Industrial and Office Realtors, the Hamilton-based firm announced Wednesday.

Retail

Nail bar, spa operator takes space at new Monmouth County retail center, Zoltek says

A nail salon has leased space at a new retail development on Route 33 in Monmouth County, in a newly announced deal by Zoltek Commercial Real Estate Services.

Office

Contractor takes 1,500 sq. ft. at Larken-owned office, medical campus in Skillman

Larken Associates has signed a new lease to bring a general contractor to Montgomery Professional Center, its nearly 48,000-square-foot office complex outside Princeton.

Features

Long-awaited Parsippany project comes with visions of bustling, downtown-style retail

Developers and local officials say they have high hopes for a luxury mixed-use development on Route 10, one with a concept that seemingly relies more heavily on retail and restaurants than typical mixed-use residential developments, in an effort to broaden its appeal.

Finance & Capital Markets

‘Vinty’ developers ink $97 million loan for new 297-unit Elizabeth rental property, JLL says

The developers of a new 267-unit apartment building in Elizabeth have obtained more than $97 million in financing for the downtown property, brokers with JLL announced Tuesday.