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
Larken, flooring company sign 1,100 sq. ft. lease at Hillsborough flex campus

A flooring business is among the newest tenants at Larken Associates’ sprawling Hillsborough Business Center off Route 206, where it has leased nearly 1,100 square feet.

Finance & Capital Markets
JLL: Owner of 210,000 sq. ft. ex-headquarters building in Union Twp. refis for $31 million

The owner of a well-known office building in Union Township has landed $31 million to refinance the 210,000-square-foot property, in a deal arranged by JLL.

Office
Onyx details Morgan Stanley, Zelis leases in Morristown totaling 170,000 sq. ft.

Onyx Equities is detailing two major deals at a newly overhauled, 400,000-square-foot office building near downtown Morristown, where it has leased a combined 170,000 square feet to banking giant Morgan Stanley and health care technology company Zelis.

Residential & Mixed Use
URW taps Mill Creek in plan for 550 rentals, public space at Garden State Plaza

The owner of Westfield Garden State Plaza in Paramus has tapped Mill Creek Residential for a plan to build 550 luxury apartments around the mall, as it looks to create a series of public green spaces and a Main Street to help integrate the newest components.

Industrial
Russo, PGIM set to break ground on 200,000 sq. ft. Mahwah industrial project

Russo Development and PGIM Real Estate have completed demolition of a defunct office complex in Mahwah, paving the way for construction of a new 200,000-square-foot industrial building at the site.

Retail
Red Bank site with commercial space, parking lot trades for $4.8 million, C&W says

A local owner has reaped nearly $5 million from its sale of a mixed-use property in downtown Red Bank, brokers with Cushman & Wakefield said Monday.

Finance & Capital Markets
BBCP inks $44 million refi for six-building, 390,000 sq. ft. Bergen County flex portfolio

The owner of nearly 390,000 square feet of flex commercial space in Allendale has refinanced the portfolio for $44 million, in a newly announced deal by Black Bear Capital Partners.

Industrial
NAI Hanson: 5.6-acre New Brunswick parcel sold, slated for outdoor container storage

An industrial user has purchased a 5.6-acre parcel along one of New Brunswick’s key industrial corridors, according to a brokerage team with NAI James E. Hanson.

Industrial
CenterPoint eyes groundbreaking for new 322,000 sq. ft. Linden industrial project

CenterPoint Properties is set to expand its holdings in New Jersey with a project that will add more than 320,000 square feet of modern industrial space to Route 1 & 9 in Linden.

Professional Services
Avison Young adds key land development group to Morristown-based team

Avison Young has named a new principal and director of land development services as part of a team serving clients across the Northeast Region and nationally.