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
Valley closes $15 million construction line of credit for 78-unit Bayonne rental project

The developer of a 78-unit multifamily project in Bayonne has closed on a $15 million construction line of credit with Valley Bank, the lender announced last week.

Retail
Net-leased CVS property trades for $9 million in deal arranged by Marcus & Millichap

A private investor has acquired a net-leased retail property just off the Hudson River in Edgewater for $9 million, in a newly announced deal by Marcus & Millichap.

Finance & Capital Markets
Broad, longtime hotel broker, joins Cronheim as senior managing director

Cronheim Hotel Capital has tapped Andrew Broad as a senior managing director, adding a veteran broker with deep ties to both the hospitality sector and the capital markets.

Retail
Wolf Fitness opens new 20,000 sq. ft. location in Sewell, Goldstein Group says

A gym franchise has expanded in Gloucester County as part of a recent 20,000-square-foot deal arranged by The Goldstein Group and Metro Commercial.

Government & Public Policy
Extending a hand to Solomon, Jersey City landlords call for more housing to solve budget, affordability woes

Following a contentious campaign, the Jersey City Apartment Owners Association said it was eager to work with new Jersey City Mayor James Solomon, reaffirming its belief that the best way to solve the city’s budget and affordability crises is to build more housing.

Government & Public Policy
NJBA, NJBIA file appeal to stop Murphy-backed flood elevation rules for development

Two top business groups are going to court to block controversial land use and flood protection rules adopted on Gov. Phil Murphy’s last day in office, stepping up their defense against a program that they’ve long said will cripple development throughout the state.

Residential & Mixed Use
Kislak: Private investor buys new 18-unit North Bergen apartment building for $6.8 million

An 18-unit luxury apartment building in North Bergen has changed hands for nearly $6.8 million, in a newly announced deal by The Kislak Co. Inc.

Professional Services
PS&S acquires Raleigh-based civil engineering, surveying firm Priest Craven

PS&S has established a new hub outside New Jersey with its acquisition of Priest Craven & Associates Inc., a North Carolina-based civil engineering and surveying practice.

Government & Public Policy
Sayreville issues RFP for bar, restaurant on riverfront property with ‘huge potential’

Officials in Sayreville are seeking proposals for a new “destination-quality” waterfront bar and restaurant along a picturesque but vacant stretch of the Raritan River.

Residential & Mixed Use
JLL: Buyer wanted for newly completed 507-unit senior housing property in Cherry Hill

The owner of a 507-unit senior housing community in Cherry Hill has listed it for sale following its recent completion of the high-profile development project.