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.

Industrial
Faropoint lands new credit facility for a combined $1.6 billion over 14 months

Investment manager Faropoint has secured a new credit facility to support its growing industrial portfolio, in the latest piece of some $1.6 billion in funding that it has closed since last summer.

Office
Edgewood buys vacant 250,000 sq. ft. Basking Ridge office building, in JLL-brokered deal

Edgewood Properties has acquired a 250,000-square-foot office building in Somerset County that was recently vacated by a global insurance company, in a deal arranged by JLL.

Residential & Mixed Use
Skylight affiliates sell Hoboken multifamily portfolio for $13.2 million, Kislak says

An investment group has sold a three-building, 21-unit multifamily portfolio in Hoboken for $13.2 million, according to a brokerage team with The Kislak Co. Inc.

Retail
Urban Edge: Apparel chain takes 2,300 sq. ft. at Bergen Town Center for first East Coast outlet

Urban Edge Properties has leased a space at its Bergen Town Center property that will serve as the first East Coast outlet location for Splendid, a fashion retailer.

Residential & Mixed Use
Wonder Lofts opens new on-site sales office, model homes as first buyers move in

The team behind the newly restored Wonder Lofts property in Hoboken has officially opened the collection of upscale condominiums with its debut of an on-site sales office.

Office
Colliers: Boutique office building in Morris County trades for $4.2 million

A private New Jersey-based investor has purchased a 32,000-square-foot office building in Chester for $4.2 million, brokers with Colliers announced Wednesday.

Health Care & Education
NAI Hanson inks 5,600 sq. ft. medical office lease in Paramus

NAI James E. Hanson has negotiated a lease for a 5,599-square-foot medical office in Paramus.

Industrial
Investor sells 276,000 sq. ft. warehouse at Exit 7 for $60 million, Newmark says

An industrial owner has sold a warehouse property in Bordentown for $60 million, in a deal by Newmark that comes five years after the asset last changed hands.

Health Care & Education
Steel frame complete for new 229,000 sq. ft. RWJ medical pavilion in New Brunswick

A new ambulatory medical pavilion in New Brunswick is on track to open by mid-2023 after stakeholders this week marked the completion of the building’s 15-story steel frame.

Industrial
Marcus Partners adds 200,000 sq. ft. with purchase of South Plainfield warehouse site

Boston-based Marcus Partners has acquired a two-building, 200,000-square-foot warehouse property on 17 acres in South Plainfield.