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.

Office
Silverman Group sells two-building, 122,000 sq. ft. Morristown office park for $22 million

The Silverman Group has sold more than 122,000 square feet of office space in Morristown for $21.5 million, in a newly announced deal by Cushman & Wakefield.

Residential & Mixed Use
Kislak inks sale of 52-unit Long Branch apartment complex for $10 million

The longtime owner of a 52-unit apartment complex in Long Branch has sold the property for nearly $10 million, according to a broker with The Kislak Co. Inc.

Government & Public Policy
EDA unveils grant program for development, art projects in transit-served urban areas

The state Economic Development Authority has launched a grant program aimed at sparking new development and art projects in cities that are served by mass transit but saw a drop in commuter foot traffic during the COVID-19 pandemic.

Retail
Vantage Commercial: Floral studio takes final space at Cherry Hill shopping center

A flower shop has signed a lease to bring a Cherry Hill shopping center to full occupancy, brokers with Vantage Commercial announced Thursday.

Finance & Capital Markets
Investor snags $10 million acquisition loan for 125,000 sq. ft. flex, office building in Whippany

The buyer of more than 125,000 square feet of flex warehouse and office space in Hanover has secured $10 million in financing for the deal, according to a team with Progress Capital.

Top News
Site of Newark’s famed Iberia restaurant sold, slated for 2,500-unit mixed-use redevelopment

A development group has acquired the site of Newark’s famed Iberia Tavern & Restaurant and several surrounding lots, where it now hopes to build more than 2,000 residential units and a bustling restaurant row in the heart of the city’s Ironbound district.

Residential & Mixed Use
Pennrose debuts new affordable housing in Glassboro for seniors, residents with disabilities

Pennrose has unveiled 64 new apartments in Glassboro for seniors and individuals with disabilities, following its $20 million redevelopment of a former public housing complex.

Professional Services
Fennelly Associates’ Dintrone earns SIOR designation

A veteran broker with Fennelly Associates has joined the ranks of the Society of Industrial and Office Realtors, the Hamilton-based firm announced Wednesday.

Retail
Nail bar, spa operator takes space at new Monmouth County retail center, Zoltek says

A nail salon has leased space at a new retail development on Route 33 in Monmouth County, in a newly announced deal by Zoltek Commercial Real Estate Services.

Office
Contractor takes 1,500 sq. ft. at Larken-owned office, medical campus in Skillman

Larken Associates has signed a new lease to bring a general contractor to Montgomery Professional Center, its nearly 48,000-square-foot office complex outside Princeton.