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

TFE, Pierson tout debut of Starbucks in Monroe, a first for Middlesex County township

Monroe Township has welcomed its first Starbucks with the opening of a new drive-thru location late last year, according to the property’s landlord and its brokerage team.

Professional Services

Bennett Realty adds net-leased retail, strip center specialist to brokerage team

An investment sales broker specializing in single-tenant, net-leased assets and strip centers has joined Holmdel-based Bennett Realty & Development.

Deals

Lee & Associates inks sale of historic church building, longtime Masonic Lodge in Madison

A historic building in downtown Madison is slated to become a new community space after changing hands for $1.1 million, in a deal arranged by Lee & Associates New Jersey.

Saxum hits nearly $1.1 billion in total capitalizations for investments, developments in 2023

Saxum Real Estate is marking a banner year after investing in a series of cold storage, industrial and multifamily assets and projects with a combined value of more than $1 billion.

Industrial

Roca Tile moving to Edison under 80,000 sq. ft. lease with Wick Cos., CBRE says

A designer tile company has leased more than 80,000 square feet at an Edison industrial building, in a newly announced transaction by CBRE.

Retail

JLL: Food tech startup Wonder among five retail users at new mixed-use project in Cresskill

Five retail tenants are coming to a new mixed-use property in Bergen County after a series of leases totaling more than 10,000 square feet, brokers with JLL announced Tuesday.

Professional Services

CSG real estate, property tax attorney Kim promoted to counsel

Chiesa Shahinian & Giantomasi PC has elevated real estate and property tax attorney Daniel Kim to the position of counsel with the Roseland-based firm.

Office

Ridgefield office building changes hands in Cervelli-brokered deal

An end user has purchased a 4,500-square-foot office building in Ridgefield, according to a team with Cervelli Real Estate & Property Management.

Finance & Capital Markets

Englewood-based Kennedy Funding lends $5.1 million for Maryland winery deal

Kennedy Funding has closed a $5.1 million loan in connection with the sale of a single-family home on a 437-acre winery property in northeast Maryland.

Office

New Jersey office market ‘poised for better times’ after strong Q4, as flight to quality continues, reports say

A recent spike in leasing demand has boosted New Jersey’s office market to start the year, even as large blocks remain available amid corporate downsizing and concerns about the economy.