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.

Industrial
RRNNJ: FedEx signs 125,000 sq. ft. renewal at CenterPoint facility in Orange County

FedEx Corp. has renewed its lease for a key facility in New York’s Hudson Valley, where it occupies 125,000 square feet under a deal with CenterPoint Properties.

Finance & Capital Markets
Kennedy Funding eyes busiest Q4 in firm history with eight land loans in eight weeks

Kennedy Funding has closed eight land loans in just eight weeks, citing heightened demand in a segment of the market that few lenders are willing to meet.

Residential & Mixed Use
HVPG details plan to preserve, update newly acquired affordable housing in Asbury Park

Hudson Valley Property Group has acquired a 170-unit multifamily complex in Asbury Park, expanding a portfolio that now includes nearly 30 properties in the state.

Office
NJ Transit, Horizon exploring plan to redevelop Newark office sites and build new 250,000 sq. ft. headquarters for health insurer

The site of two office buildings in downtown Newark could become up to 1,000 apartments and retail space under a proposal that involves the prospect of a new ground-up, 250,000-square-foot headquarters for Horizon Blue Cross Blue Shield of New Jersey.

Residential & Mixed Use
Russo, Terminal debut 216-unit rental project as second phase of Orange development

Russo Development has unveiled a second apartment building in Orange, delivering another 216 units along NJ Transit’s Morris & Essex Line and adjacent to a project completed in 2023.

Residential & Mixed Use
TAY Investments eyes 365-unit Jersey City rental project, its largest to date

TAY Investments has detailed plans to build 365 apartments at a recently acquired site in Jersey City, in what would be the largest project to date in the firm’s fast-growing portfolio.

Office
NAIDB: Westfield office building to become swim school after $2.2 million sale

A swim school operator has acquired a 9,700-square-foot office building in Westfield for more than $2.2 million, according to a listing team with NAI DiLeo-Bram & Co.

Residential & Mixed Use
Kushner adds 295-unit luxury rental property in Virginia’s Hampton Roads region

Kushner has expanded its holdings outside New Jersey, acquiring a 295-unit multifamily property in southeastern Virginia that opened its doors last year.

Professional Services
Stockton, Hofstra library renovations among DIGroup’s latest higher ed projects

The renovation of Stockton University’s main library in Galloway is taking shape as part of a $19.5 million project spearheaded by DIGroup Architecture.

Industrial
Konkus Corp., logistics firm ink 2,500 sq. ft. lease in Hillsborough, Deluccia says

A transportation and freight services firm has taken 2,500 square feet at a renovated industrial property in Hillsborough, in a deal arranged by Deluccia Commercial Group.