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.

Community
Blue Onyx, Paterson Music Project host festival supporting Turkey-Syria earthquake relief

A crowd of Paterson residents and community leaders descended on the city’s Great Falls section earlier this month, supporting relief efforts for the recent earthquake in Turkey and Syria while showcasing a local after-school music program for students.

Residential & Mixed Use
Brookfield, G&S break ground on 802-unit high-rise at ShopRite property in Jersey City

A joint venture has broken ground on a high-rise that will add more than 800 apartments to downtown Jersey City, in the latest phase of a plan to transform a well-known retail property.

People
Azarian Group promotes Pelio to executive vice president

The Azarian Group LLC, the Midland Park-based commercial real estate firm, has promoted Kevin Pelio to executive vice president.

Office
Sheldon Gross: Lens maker buys 13,000 sq. ft. North Plainfield office building for $1.4 million

An optic lens maker has acquired a nearly 13,000-square-foot office building in North Plainfield, brokers with Sheldon Gross Realty announced Tuesday.

Industrial
NAI Hanson inks sale of 8,000 sq. ft. Hackensack warehouse

An owner-occupier has purchased a nearly 8,000-square-foot industrial building in Hackensack, in a newly announced deal by NAI James E. Hanson.

Residential & Mixed Use
Larken Associates’ Irwin elevated to property manager

Larken Associates has promoted a leasing consultant on its multifamily team to the role of property manager, the Branchburg-based firm announced Tuesday.

Residential & Mixed Use
Petrucci, TD+ Partners unveil 172-unit rental property in East Orange

J.G. Petrucci Co. Inc. has completed a new 172-unit luxury apartment building in East Orange, having transformed what was a vacant site about two blocks from Interstate 280.

Finance & Capital Markets
Developers ink $180 million construction loan for 1.7 million sq. ft. Pennsville logistics park

A joint venture has secured a $180 million construction loan for what will be a two-building, 1.7 million-square-foot industrial park just off the Delaware Memorial Bridge in Salem County.

Office
C&W: Nashville-based buyer enters New Jersey market, inks $40 million medical office deal

The Silverman Group has shed more than 130,000 square feet of medical office space in New Jersey, selling a portfolio in Essex and Union counties for more than $40 million.

Professional Services
Garibaldi Group broker, cancer survivor, completes first deals after joining firm

The Garibaldi Group’s newest broker has inked his first two deals for the firm, completing office leases in May that allowed two clients to find new space in Morris County.