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
Marcus inks $3 million sale of net-leased auto parts store on Route 22

A private investor has purchased a net-leased auto parts store in Somerset County for more than $3 million, under a newly announced transaction by Marcus & Millichap.

Retail
Fast-casual chicken finger chain seeks N.J. locations, picks R.J. Brunelli as agent

A fast-growing restaurant chain specializing in chicken fingers is seeking locations in New Jersey and New York, having tapped R.J. Brunelli & Co. as its agent in the market.

Retail
Midtown Commercial: Lobster restaurant acquires Millburn location, eyes expansion

A seafood restaurant is expanding its footprint in northern New Jersey with the acquisition of a new location in Millburn, according to brokers with Midtown Commercial Realty.

Office
Newmark: Sublet space mounts in North Jersey office market, driving occupancy losses

The northern New Jersey office market continued to weaken in the first quarter, with large availabilities mounting as companies shed excess space and continue to work remotely.

Finance & Capital Markets
Kokes inks $19 million construction loan for Riverside rental project

Kokes Properties has secured more than $19 million in financing for the first phase of a 190-unit residential project in the Burlington County township of Riverside.

Professional Services
Avison Young promotes project manager in New Jersey

Avison Young has announced a promotion on its New Jersey project management team.

Retail
LMC: Eye care business under new ownership, keeps 2,000 sq. ft. Bridgewater location

An optical retailer is maintaining its presence at a Bridgewater shopping center, under a newly completed lease by Levin Management Corp. and Cushman & Wakefield.

Finance & Capital Markets
Prism lands permanent financing for 330-unit adaptive reuse project in West Orange

Prism Capital Partners has secured new financing for its high-profile adaptive reuse project in West Orange, the site of more than 330 new homes and ground-floor retail space.

Retail
Water ice parlor signs new lease, expanding to Cherry Hill

A water ice and ice cream parlor has signed a lease for a new location in Cherry Hill, in a newly completed transaction by Vantage Commercial.

Finance & Capital Markets
Kennedy Funding closes loan for ambitious Albany redevelopment

Kennedy Funding has closed $850,000 in financing to the developers of a four-building, mixed-use project in Albany, New York, the Englewood Cliffs-based lender announced last week.