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.

Office
Kremer Eye Center expands to 9,800 sq. ft. inside Cherry Hill office park

A vision care and surgery center has expanded at a Cherry Hill office park, where it now occupies nearly 10,000 square feet under a deal with Diversified Management Plus.

Residential & Mixed Use
Veris, Woodmont sell 59-unit Morristown rental property in deal by Gebroe-Hammer, Berkadia

Veris Residential Inc. and Woodmont Properties have sold a 59-unit luxury apartment building in downtown Morristown, in a deal announced by Gebroe-Hammer Associates and Berkadia.

Events
NAIOP New Jersey to host annual meeting, commercial real estate outlook on Jan. 25

NAIOP New Jersey will welcome hundreds of industry leaders next week for its first event of the year, where experts will highlight economic trends and their impact on commercial real estate.

Government & Public Policy
Community solar program benefiting property owners, residents set to expand under new law

State officials are doubling down on a program that has brought solar panels to warehouses across New Jersey while creating low-cost clean energy for thousands of residents.

Retail
JLL: Valley takes 3,900 sq. ft. for new Florham Park branch

Valley National Bank has found a new branch in Florham Park after leasing nearly 3,900 square feet at a freestanding drive-thru property, brokers with JLL announced last week.

Retail
Wonder Restaurants expands with 2,800 sq. ft. deal in Springfield, Goldstein Group says

Wonder Restaurants has expanded its brick-and-mortar footprint in the state with a new 2,800-square-foot lease in Springfield, in a deal arranged by The Goldstein Group.

Finance & Capital Markets
Starfield-led team lands $80 million construction loan for Asbury Park rental project, JLL says

A joint venture has snagged an $80 million construction loan for a project that will bring 226 luxury apartments and townhomes to Asbury Park’s waterfront redevelopment zone.

Events
High-profile speaker list grows for Rutgers symposium, case study on distressed assets

The next Rutgers Center for Real Estate symposium is only weeks away, with a fast-growing list of speakers who will share their insights on tackling distressed commercial real estate.

Health Care & Education
Prism touts construction progress as steel rises for new HMH medical facility at ON3

A new 80,000-square-foot ambulatory care center is rising in Clifton as part of what will be another addition to Prism Capital Partners’ mixed-use ON3 campus.

Retail
C&W: 22,000 sq. ft. River Edge retail center trades for $3.2 million

An investor has acquired a nearly 22,000-square-foot retail property in the Bergen County borough of River Edge, in a newly announced deal by Cushman & Wakefield.