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
JLL: Rockefeller sells 454,000 sq. ft. Lehigh Valley warehouse to Link for $91 million

Rockefeller Group has sold a nearly 454,000-square-foot industrial building in Pennsylvania’s Lehigh Valley for $91 million, in a newly announced deal by JLL.

Professional Services
Sax names Top 50 accounting firm veteran as new CFO

Sax LLP, the Parsippany-based accounting, tax and business advisory firm, has named a new chief financial officer.

Professional Services
WCRE adds property manager to growing team in South Jersey, Pennsylvania

Wolf Commercial Real Estate has announced a new hire on its facilities and property management team in the southern New Jersey and Philadelphia region.

Office
Campbell set to begin $50 million renovation of historic Camden headquarters

Campbell Soup Co. is planning a $50 million overhaul of its iconic headquarters in Camden as part of a move to consolidate its office-based employees from outside New Jersey.

Government & Public Policy
Rutgers launches study on parking usage at multifamily sites, seeking updated state guidelines

The Rutgers Center for Real Estate has launched a study that it hopes will capture real-time data on parking usage at residential properties in New Jersey, as it pushes for updates to the decades-old standards that towns and cities use to guide land use and redevelopment.

Residential & Mixed Use
Hudson Atlantic closes $14.7 million sale of 26-unit Madison apartment building

A distinctive 26-unit apartment building in downtown Madison has traded for $14.7 million, brokers with Hudson Atlantic Realty announced Wednesday.

Retail
Azarian: Hobby Lobby takes 59,000 sq. ft. at Neptune Twp. shopping center

Hobby Lobby has leased nearly 59,000 square feet at a grocery-anchored retail center in Neptune Township, in a newly announced deal by Azarian Realty Co.

Retail
Growing circuit-based gym franchise takes 3,000 sq. ft. in Old Bridge, LMC says

A gym franchise has found a new home in Old Bridge after leasing space at a 26,000-square-foot shopping center, according to an agency team with Levin Management Corp.

Finance & Capital Markets
C&W: Developers land $147 million construction loan for Parsippany redevelopment project

A development team has secured nearly $147 million in construction financing for a project that will bring some 500 new apartments and retail space to Parsippany, revitalizing the former site of a defunct office complex on Route 10.

Industrial
Private investor buys 33,000 sq. ft. Hasbrouck Heights industrial building

A private investor has purchased a fully leased, 33,000-square-foot industrial building in Hasbrouck Heights, in a deal arranged by NAI James E. Hanson.