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.

Retail
Developer sells new 7-Eleven property in North Bergen for $2.6 million

A developer has sold the site of a newly built 7-Eleven property in North Bergen for $2.6 million, in newly announced deal by CBRE.

Health Care & Education
NAI Hanson: Orthopedic, physical therapy practice takes 7,300 sq. ft. in Paramus

An orthopedic and physical therapy practice has leased nearly 7,300 square feet of medical office space in Paramus, brokers with NAI James E. Hanson said Tuesday.

Industrial
Devli acquires Wallington industrial site, assembling 34-acre development parcel

Devli Real Estate has assembled 34 acres of industrial property in Wallington, creating a rare large tract of developable land in and around the Meadowlands submarket.

Finance & Capital Markets
Bridge Industrial inks $33 million construction loan for East Hanover project, JLL says

Bridge Industrial has obtained a $33 million construction loan for a project that will bring more than 300,000 square feet of new warehouse space to Morris County.

Government & Public Policy
Jersey City: Loew’s Theatre restoration lands $42 million tax credit to kick off EDA program

The state has awarded more than $42 million in tax credits to a plan to restore an iconic theater in Jersey City, the first approval under the new Historic Property Reinvestment Program.

Industrial
Seagis adds two-building, 19,000 sq. ft. Moonachie industrial portfolio

Seagis Property Group LP has acquired two vacant industrial buildings in Moonachie, adding more than 19,000 square feet to its portfolio in the Meadowlands submarket.

People
JZA+D details five promotions, new marketing coordinator

Design firm JZA+D has announced five promotions and the appointment of a new marketing coordinator on its Princeton-based team.

Industrial
C&W: South Plainfield industrial condo trades for $4.6 million

An investor has purchased a nearly 30,000-square-foot industrial condominium in South Plainfield for $4.55 million, in a newly announced deal by Cushman & Wakefield.

Finance & Capital Markets
LCD Commercial sources $3.6 million loan for 33-unit Paterson housing portfolio

The owner of a 33-unit housing portfolio in Paterson has secured more than $3.6 million in financing for the properties, according to Totowa-based LCD Commercial Lending.

Residential & Mixed Use
Developer inks $88 million sale of 242-unit rental property under construction in Carteret

Forte Real Estate Development has sold a nearly completed, 242-unit luxury apartment building in Carteret for $87.5 million, borough officials announced last week.