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.

Finance & Capital Markets
JLL inks $12 million refi for two-building, 114,000 sq. ft. industrial portfolio in Elmwood Park

Alfred Sanzari Enterprises has secured $12.2 million to refinance two Elmwood Park industrial buildings totaling nearly 114,000 square feet, brokers with JLL announced Tuesday.

Residential & Mixed Use
Sanzari, apparel maker sign 36,000 sq. ft. renewal in South Hackensack

An apparel company has signed a renewal at a South Hackensack industrial building, where it occupies more than 36,000 square feet under a lease with Alfred Sanzari Enterprises.

Residential & Mixed Use
Boutique apartment building in Bergen-Lafayette is 50 percent leased

A new 38-unit apartment building in Jersey City’s Bergen-Lafayette section is now more than 50 percent leased after hitting the market earlier this year.

Government & Public Policy
Recreational cannabis sales in New Jersey jump 46 percent, top $116 million in Q3

Sales of recreational cannabis in New Jersey rose to more than $100 million in the third quarter, showing the potential of a market that launched less than eight months ago.

Government & Public Policy
State completes sale of 36-acre Fort Monmouth parcel slated for RWJBarnabas campus

The state has completed its sale of a 36-acre parcel at Fort Monmouth — the onetime home of a Cold War-era research complex — where plans call for a long-awaited, sprawling health care campus to be operated by Monmouth Medical Center.

Retail
Federal Realty buys ex-bank property in downtown Hoboken, Pierson says

The site of a former bank branch in downtown Hoboken has traded for $9 million, in a newly announced deal by Pierson Commercial.

Residential & Mixed Use
New 337-unit rental complex rising in Jersey City’s West Side neighborhood, JRM says

Construction is progressing on a new 337-unit luxury apartment building in Jersey City’s fast-changing West Side neighborhood, the project’s general contractor said Monday.

Office
WCRE: Conrail takes 32,000 sq. ft. at Mount Laurel office building

Conrail has leased more than 32,000 square feet at a recently updated office building in Mount Laurel, according to a brokerage team with Wolf Commercial Real Estate.

Industrial
Brookfield buys site of Kearny freight transfer facility for $67 million

Brookfield Asset Management has acquired the site of a nearly 57,000-square-foot industrial building in Kearny, in a deal reportedly valued at $67.25 million.

Deals
CPN: Plumbing, heating business buys Princeton building for new headquarters

A local plumbing and heating business has purchased a 5,000-square-foot building in Princeton, securing a space that will become the company’s home starting in 2023.