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
Stro taps former CBRE broker as director of leasing

A former broker has joined The Stro Cos. as its new director of leasing, the firm announced.

Residential & Mixed Use
Russo launches leasing at phase two of Union project, offering 427 luxury rentals

Russo Development has launched leasing at a collection of 427 new apartments in Union Township, following the success of an earlier phase at a sprawling project along Morris Avenue.

Residential & Mixed Use
Bloomfield apartment owner sells 13-unit property after more than 40 years.

The longtime owner of a 13-unit apartment building in Bloomfield has sold the property, under a newly announced transaction by NAI James E. Hanson.

Industrial
Middlesex industrial building trades for $1.7 million, Boniakowski says

An owner-occupier has acquired a nearly 17,000-square-foot industrial building in Middlesex Borough, according a broker with The Boniakowski Commercial Real Estate Group.

Industrial
Rockefeller says growth of in-house design, construction team has boosted project speed

In a time when industrial builders can’t deliver new space fast enough, those with in-house design and construction teams are finding ways to speed up the development process. The Rockefeller Group has honed that strategy in recent years with a series of key hires in the region. In the process, executives say the moves have also provided a leg up in the increasingly competitive and increasingly complex search for new sites.

Residential & Mixed Use
CBRE: Boutique rental property in Ridgewood sells for $14.3 million

A private real estate family has acquired a three-building, 31-unit apartment complex in Ridgewood for more than $14 million, in a transaction arranged by CBRE.

Retail
JLL: Daycare, preschool center leases 14,000 sq. ft. at Hoboken office building

A new daycare and preschool center is coming to the base of a well-known office complex in downtown Hoboken, in a newly announced transaction by JLL.

Finance & Capital Markets
Sponsor inks financing for 4,000 affordable housing units, using $850 million in tax credits

An investment firm has closed financing for $850 million in affordable housing tax credit properties, doing so through a trio of institutional funds.

Office
Mack-Cali selling Jersey City office tower to Birch Group for $380 million

Mack-Cali Realty Corp. has agreed to sell a 42-story, 1.2 million-square-foot office tower in Jersey City to The Birch Group, reportedly for $380 million.

Office
Newmark inks sale of two-building, 140,000 sq. ft. portfolio at repositioned Warren campus

A joint venture has sold a pair of multipurpose commercial buildings in Warren, marking its latest transaction at a renovated and rebranded campus near Interstate 78.