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

Developer of five-year-old self-storage building in Westwood refis for $12 million, JLL says

The developer of an 830-unit self-storage facility in Bergen County has refinanced the property for $12 million, according to a debt placement team with JLL.

Health Care & Education

Cardio practice takes 6,500 sq. ft. in renewal, expansion at Larken property in Flemington

Larken Associates has negotiated a lease renewal and expansion to 6,456 square feet with a cardiology provider in Flemington.

Retail

Jersey Mike’s takes 1,800 sq. ft. at Burlington County shopping center, LMC says

Fast-casual franchise Jersey Mike’s Subs has inked an 1,800-square-foot lease at Hartford Corners in Delran Township, brokers with Levin Management Corp. announced.

Residential & Mixed Use

Buzzworthy

As you’ll read in this month’s cover story, the large, high-profile office deal is alive and well in the pandemic’s aftermath, as blue-chip employers make major investments in their physical footprint. That’s evident by several outsized leases in New Jersey this year of 100,000 square feet or greater, and market experts say there are likely more to come, as corporations look to support their growth while creating a “commute-worthy” environment for its distributed workforce.

Finance & Capital Markets

Provident, Lakeland to merge in $1.3 billion deal that will fortify CRE lending platforms

Provident Bank and Lakeland Bank are joining forces under a $1.3 billion merger announced Tuesday, bringing together two key lenders in the state’s commercial real estate sector.

Industrial

Joint venture breaks ground on 1.1 million sq. ft. logistics park four miles from N.J. Turnpike

Construction is underway on a project that will bring nearly 1.1 million square feet of high-end industrial space to a 74-acre former chemical plant site in Sayreville.

People

Diversified Properties taps Leifer as director of acquisitions, development

Diversified Properties has hired a longtime real estate executive as its new director of acquisitions and development, the Montville-based firm announced.

Industrial

Newark’s Ballantine Industrial Center fully leased after 21,000 sq. ft. deal, NAI Hanson says

A business that serves the fashion industry has expanded its footprint at the former Ballantine Brewery complex in Newark, bringing the sprawling property to full occupancy.

Retail

JRM details new store fit-outs for Peloton, Versace at The Mall at Short Hills

Two well-known retailers have debuted new spaces at The Mall at Short Hills after fit-out projects by JRM Construction Management, the firm announced Tuesday.

L’Oréal details plan for new $140 million research, innovation center in Clark

L’Oréal USA has unveiled plans for a new $140 million research and innovation center in Clark, where it’s replacing facilities that it has occupied in the area for more than six decades.