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
Avison Young: RWJBH takes 26,000 sq. ft. in New Providence, in one of two new leases

RWJBarnabas Health has signed two new leases that will provide it with additional space in Union and Essex counties, brokers with Avison Young announced Tuesday.

Office
Larken set to expand flexible office program in Branchburg

Larken Associates is adding to its stock of fully furnished, flexible office space at a nearly 117,000-square-foot campus along Route 22 in Branchburg.

Industrial
Developers, adapting to changing market, near completion of massive Linden industrial park

A sprawling industrial park in Linden is nearing completion after four years of construction, a span in which warehouse demand soared to historic highs before a recent pullback, as its developers mull plans to tap into the growing market for outdoor trailer storage.

Industrial
Faropoint adds 151,000 sq. ft. Branchburg industrial building for $24 million, C&W says

Investment firm Faropoint has purchased a 151,000-square-foot industrial building in Branchburg for nearly $24 million, in a deal arranged by Cushman & Wakefield.

Finance & Capital Markets
STRO lands $13.5 million loan to refi 78,000 sq. ft. Fairfield industrial building

The STRO Cos. has refinanced a 78,000-square-foot industrial building in Fairfield with a $13.5 million loan from City National Bank, the Ridgewood-based firm said Monday.

Finance & Capital Markets
JLL sources $250 million credit facility on behalf of Hampshire retail, self-storage REIT

Affiliates of The Hampshire Cos. have secured a $250 million credit facility for a real estate investment trust focused on retail and self-storage properties, brokers with JLL announced.

Professional Services
H2M acquires Butler-based Crew Engineers to strengthen water, environmental practice

H2M architects + engineers has completed its acquisition of Crew Engineers Inc., a Butler-based firm focused on water, wastewater, environmental and civil engineering design work.

Industrial
Shearer, NAIOP New Jersey ready for more proactive approach to anti-warehouse sentiment

Rockefeller Group’s Mark Shearer has kicked off a two-year term as NAIOP New Jersey’s chapter president, with plans to expand outreach to highlight the value of warehouse projects amid increasingly fierce resistance to development in the state.

Professional Services
JLL investment sales broker Avanzato promoted to managing director

JLL has promoted Jordan Avanzato to managing director with its Morristown-based investment sales team in the region.

Residential & Mixed Use
Cervelli: Three-building, 36-unit rental property in Jersey City trades for $4.9 million

A longtime owner has sold a three-building, 36-unit apartment property in Jersey City for $4.9 million, in a newly announced deal by Cervelli Real Estate.