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.

Professional Services
Blau & Berg’s Kavanagh begins term as SIOR New Jersey chapter president

A longtime broker with The Blau & Berg Co. has taken over as New Jersey chapter president of the Society of Industrial and Office Realtors.

Finance & Capital Markets
Procida’s 100 Mile Fund achieves 2022 net income of $11.6 million, 9.5 percent return

The long-running 100 Mile Fund managed by Procida Funding LLC achieved net income in 2022 of $11.6 million, the firm announced, representing a net return to investors of 9.5 percent.

Residential & Mixed Use
Developer secures site plan approval for 150-unit rental project in New Brunswick

A developer has secured a key entitlement for a proposed 150-unit luxury apartment building in the heart of Rutgers University’s campus in downtown New Brunswick.

Residential & Mixed Use
Hampshire details plans, timeline for 70-unit rental project in Allendale

The Hampshire Cos. has unveiled plans for a new 70-unit apartment building in the Bergen County borough of Allendale.

Professional Services
Industrial broker Wisse named partner with Lee & Associates New Jersey

A veteran broker with Lee & Associates New Jersey is now a partner after earning his fourth promotion since 2016, when he joined the Elmwood Park-based team as an associate.

Retail
Marcus: Investor buys 138,000 sq. ft., grocery-anchored center in Vineland for $19 million

An investor has sold a grocery-anchored shopping center in Vineland for $19.3 million, in a newly announced deal by Marcus & Millichap.

Finance & Capital Markets
JLL: Levin Properties refis ShopRite-anchored center in Woodbridge for $43 million

The owner of a ShopRite-anchored retail center in Woodbridge has refinanced the property for more than $43 million, according to a debt placement team with JLL.

People
Bazzani joins JDA Group as development, investment manager

JDA Group LLC has named a new development and investment manager, hiring a former member of Duke Realty Corp.’s New Jersey team to help support its growth.

Industrial
Charity Realty: NJIT affiliate takes 19,000 sq. ft. for new Morris County lab facility

The New Jersey Institute of Technology has leased nearly 19,000 square feet in Roxbury to develop a new multipurpose lab space, in a deal arranged by Charity Realty International LLC.

Professional Services
Cresa adds industrial real estate expert to growing Northeast brokerage team

A veteran real estate executive and broker has joined Cresa’s industrial services group as a managing principal, with a regional focus that includes central and southern New Jersey.