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.

Government & Public Policy
EDA board approves Weiss, former Newark Alliance leader, as its new CEO

Evan Weiss is set to officially take the helm of the New Jersey Economic Development Authority, following a board vote Wednesday to approve him as its next chief executive.

Industrial
Advance closes construction loan, taps JLL to lease 110,000 sq. ft. Parsippany logistics project

Advance Realty Investors has unveiled plans to bring 110,000 square feet of new industrial space to Parsippany, part of a project that it’s now marketing alongside brokers with JLL.

Residential & Mixed Use
CBRE: Summit Assets sells new 30-unit Maplewood rental property for $13 million

The developer of a new 30-unit luxury apartment building in Maplewood has sold the property for nearly $13 million, according to a listing team with CBRE.

Professional Services
Studio 1200, marking 20th anniversary, named AIA-NJ Firm of the Year

Studio 1200 is starting the year on a high note after winning AIA New Jersey’s Firm of the Year award, a top honor recognizing excellence in design, practice and service to the profession.

Retail
AutoZone site in Gloucester County fetches $4.8 million, Marcus says

A private investor has sold the site of a nearly 15,000-square-foot AutoZone store in Gloucester County for $4.8 million, in a newly announced deal by Marcus & Millichap.

Health Care
Atkins lands new property management assignments in five-building deal with Rothman

Atkins Cos. has expanded its property management portfolio with a five-building, 150,000-square-foot assignment on behalf of Rothman Orthopaedics.

Retail
Longtime client taps LMC to manage North Brunswick, Edison retail properties

Levin Management Corp. has picked up two new assignments in Central Jersey, expanding its relationship with a longtime client and shopping center owner in the region.

Finance & Capital Markets
CBRE: Blackstone 360 lands $60 million permanent loan for 213-unit East Orange high-rise

Blackstone 360 has closed on $60 million in permanent financing for a new 213-unit luxury apartment tower in East Orange, in a deal arranged by CBRE.

Industrial
Denholtz buys 133,000 sq. ft. Indianapolis industrial park in latest out-of-state deal

Denholtz has made another addition to its holdings outside New Jersey, acquiring more than 133,000 square feet of industrial space as part of a shallow-bay portfolio in Indianapolis.

Retail
PREIT touts new store openings, leasing momentum at Cherry Hill Mall

PREIT is continuing its update of its flagship Cherry Hill Mall, announcing the debut of four retail and dining tenants and a newly signed lease with another well-known brand.