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
Investor buys 553,000 sq. ft. Parsippany industrial building, reportedly for $116 million

Brooklyn-based Madison Properties had added to its New Jersey portfolio with the purchase of more than 550,000 square feet of industrial space in Parsippany.

Finance & Capital Markets
JLL: Hampshire, Invesco land $39 million acquisition loan for Teterboro industrial deal

A joint venture has acquired a nearly 222,000-square-foot industrial building in Teterboro with the help of $39 million in financing secured by JLL, the debt placement team said Tuesday.

Professional Services
Coffey, Gianetti named co-chairs of Day Pitney real estate and environmental group

Day Pitney LLP has tapped two of its New Jersey-based partners as co-chairs of the law firm’s real estate and environmental practice.

Office
Telecom business inks 7,000 sq. ft. office lease in Summit, in deal arranged by NAI Hanson

A telecommunications firm has taken 7,000 square feet of office space just off Route 24 in Summit, according to a broker with NAI James E. Hanson.

Residential & Mixed Use
Paramount, city officials unveil 70-unit rental project in Plainfield’s Netherwood section

Paramount Assets has opened the doors to a collection of more than 70 luxury apartments in Plainfield, its latest project in the burgeoning Union County city.

Retail
Safelite takes 4,800 sq. ft. on Route 37 in Toms River, Blau & Berg says

Windshield repair company Safelite has leased nearly 5,000 square feet of retail space in Toms River, in a newly announced deal by The Blau & Berg Co.

Office
Karafiol, longtime Onyx executive, joins JLL agency team in New Jersey

A key executive with Onyx Equities has returned to brokerage, joining JLL as an executive vice president with the firm’s New Jersey team.

Professional Services
Webster-led team joins Connell Foley real estate practice in Newark

A team led by prominent real estate attorney Elnardo Webster II has moved to Connell Foley LLP, helping to deepen the practice group and the firm’s Newark office.

Retail
Urban Edge touts 9,500 sq. ft. in new leases, new-look J.Crew store at Bergen Town Center

Five new tenants are coming to Bergen Town Center in Paramus and Maywood, under a series of leases announced Monday by Urban Edge Properties.

Deals
McBride: Longtime Hudson County embroidery factory sold, slated for redevelopment

The longtime home of an embroidery factory in Guttenberg has changed hands and is now slated to be redeveloped as multifamily housing, a broker with McBride Corporate Real Estate said.