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.

The best of The Briefing 2022

We’re always excited to look ahead to a new year in New Jersey commercial real estate. First, however, please join us in looking back at our top stories of the year, including our most-read items and a few editor’s picks. Happy New Year and best of luck!

Office

JLL: Parsippany office building sells for $88 million, in latest trade of 400,000 sq. ft. property

Signature Acquisitions has added to its suburban office portfolio in New Jersey with its purchase of a well-known, 400,000-square-foot property in Parsippany for $88 million.

Residential & Mixed Use

Blackstone 360 unveils new East Orange apartments alongside existing rental tower

Blackstone 360 has debuted a new 70-unit luxury apartment tower alongside an existing property in East Orange, marking a new phase for its maiden project in the city.

Community

J&L, Sordoni partner for second annual toy drive benefiting Newark’s CCP Church

A toy drive for children in Newark’s Ironbound section made its return this week with the help of the development team for a new 12-story, 403-unit apartment building in the area.

NAIDB: New Jersey CRE market shows strength across property types, despite headwinds

Commercial real estate in New Jersey continues to draw investors and tenants at a robust pace, despite economic uncertainty, with even less-heralded asset classes such as office and retail showing signs of health in recent months.

Industrial

Brookfield buys newly built, 1 million sq. ft. industrial park at Exit 7A in Jackson Twp.

Brookfield Properties has acquired more than 1 million square feet of newly delivered industrial space in Jackson Township, in a deal arranged by Cushman & Wakefield.

Retail

Marcus inks sale of 9,400 sq. ft. Millburn retail asset for $3.2 million

A private investor has purchased a nearly 10,000-square-foot retail center in downtown Millburn for $3.2 million, brokers with Marcus & Millichap announced Wednesday.

Finance & Capital Markets

Owner of 108-unit Little Ferry rental complex refinances for $11 million, Northmarq says

A garden apartment owner in Little Ferry has refinanced a 108-unit complex for $11 million, according to a debt placement team with Northmarq.

Community

NJBankers recognizes Spencer Savings Bank for commitment to community service

A top trade association has honored Spencer Savings Bank for its ongoing support of community organizations and nonprofits, the Elmwood Park-based lender announced.

Industrial

Home Depot affiliate takes 196,000 sq. ft. at new Bayonne industrial building

An affiliate of Home Depot has leased nearly 200,000 square feet at a soon-to-be-built industrial property in Bayonne, in a newly announced deal by JLL.