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
MSC: Developer sells 10,000 sq. ft., net-leased daycare building in Cinnaminson

A developer has sold the site of a net-leased daycare facility along Route 130 in Burlington County, brokers with MSC Retail Inc. announced Thursday.

Deals
Investor flips Burlington County mobile home park, Vantage Commercial says

An investor has sold a mobile home park in the Burlington County township of Hainesport, in a newly announced deal by Vantage Commercial.

Health Care & Education
EDA approves $271 million tax credit for massive health, life sciences campus in New Brunswick

The state has approved a $271 million tax credit for a plan to build more than 570,000 square feet of research and academic space in downtown New Brunswick, including a new home for the state’s flagship medical school and facilities for startups and entrepreneurs.

Industrial
Rockefeller Group sells new Burlington County warehouse for $83 million

Rockefeller Group has sold a newly built distribution center in Burlington County for $83 million, securing a buyer that will occupy the nearly 346,000-square-foot building.

Professional Services
Parsippany-based engineer among newest principal-level promotions by Langan

Langan has promoted a veteran engineer based in its Parsippany headquarters, in one of seven newly announced moves across its leadership team.

Professional Services
MacKenzie, Apfel promoted to first vice president with CBRE investment sales team

CBRE has promoted two members of its investment sales team in the region, touting their role in growing the firm’s pipeline of multifamily deals.

Professional Services
Blau & Berg’s Kavanagh begins term as SIOR New Jersey chapter president

A longtime broker with The Blau & Berg Co. has taken over as New Jersey chapter president of the Society of Industrial and Office Realtors.

Finance & Capital Markets
Procida’s 100 Mile Fund achieves 2022 net income of $11.6 million, 9.5 percent return

The long-running 100 Mile Fund managed by Procida Funding LLC achieved net income in 2022 of $11.6 million, the firm announced, representing a net return to investors of 9.5 percent.

Residential & Mixed Use
Developer secures site plan approval for 150-unit rental project in New Brunswick

A developer has secured a key entitlement for a proposed 150-unit luxury apartment building in the heart of Rutgers University’s campus in downtown New Brunswick.

Residential & Mixed Use
Hampshire details plans, timeline for 70-unit rental project in Allendale

The Hampshire Cos. has unveiled plans for a new 70-unit apartment building in the Bergen County borough of Allendale.