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.

Health Care & Education
Joint venture buys Clifton medical office building for $16 million, C&W says

A partnership has purchased a nearly 63,000-square-foot medical office building in Clifton for $16 million, brokers with Cushman & Wakefield announced Thursday.

Industrial
NAI Hanson: Glass maker takes 14,000 sq. ft. at Sparta industrial park

A glass manufacturer has leased more than 14,000 square feet at a new industrial park in Sparta, according to a broker with NAI James E. Hanson.

Industrial
Sheldon Gross inks sale of Newark auto body shop property for $750,000

A commercial property on Newark’s Verona Avenue has changed hands for $750,000, in a deal brokered by Sheldon Gross Realty Vice President Eric Weston.

Industrial
G.S. Wilcox sources $17 million loan for 130,000 sq. ft. Pennsylvania warehouse project

G.S. Wilcox & Co. has arranged $17 million in construction-to-permanent financing for a 130,435-square-foot warehouse in Eastern Pennsylvania, the Morristown-based firm said.

Residential & Mixed Use
Investor sells 115-unit garden apartment portfolio in Newton for $22 million, Kislak says

An investment firm has sold a three-property, 115-unit apartment portfolio in Sussex County for more than $22 million, in a newly announced deal by The Kislak Co. Inc.

Office
Insiders: New Jersey office market still ripe for large, blue-chip deals in age of hybrid work

Market experts say large, high-profile office deals are likely still to come in New Jersey, despite the push for hybrid schedules and lingering questions about the return to work.

Industrial
BRC: Food distributor expands again in Somerset, leasing 52,000 sq. ft.

A food distributor has leased more than 52,000 square feet of industrial space in Franklin’s Somerset section, in the latest expansion of its footprint in recent years.

Finance & Capital Markets
CMC inks $6.4 million construction loan for Fanwood apartment, retail project

A developer has landed a $6.4 million construction loan for a project that would bring 24 new apartments and retail space to Fanwood, according to Commercial Mortgage Capital.

Finance & Capital Markets
Developer of five-year-old self-storage building in Westwood refis for $12 million, JLL says

The developer of an 830-unit self-storage facility in Bergen County has refinanced the property for $12 million, according to a debt placement team with JLL.

Health Care & Education
Cardio practice takes 6,500 sq. ft. in renewal, expansion at Larken property in Flemington

Larken Associates has negotiated a lease renewal and expansion to 6,456 square feet with a cardiology provider in Flemington.