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.

Professional Services
Petrucci elevates Baker, longtime project executive, to vice president

J.G. Petrucci Co. Inc. has promoted Dominick Baker to vice president, citing his key role in advancing its development and construction initiatives across the region.

Finance & Capital Markets
JLL sources $48 million refi loan for 165-unit senior housing portfolio in Bergen, Rockland

The owners of senior housing communities in northern New Jersey and the Lower Hudson Valley have refinanced the portfolio for $48 million, brokers with JLL said Monday.

Retail
Azarian: Pearle Vision leases 2,400 sq. ft. at Route 1 shopping center in Metuchen

A new Pearle Vision is opening in Metuchen after taking space at a highway commercial property, according to a brokerage team with Azarian Realty Co.

Office
Newmark: AEP, Provident ink 23,000 sq. ft. lease at revamped Parsippany office building

American Equity Partners has signed two notable leases at a Parsippany office building, including a deal to bring Provident Bank to the nearly 197,000-square-foot property.

Finance & Capital Markets
WPT scores acquisition loan for two-building, 603,000 sq. ft. warehouse complex at Exit 8A

WPT Capital Advisors has secured acquisition financing for more than 603,000 square feet of industrial space in Monroe Township, brokers with JLL announced last week.

Industrial
Alterra adds industrial outdoor storage in Wharton as part of 206,000 sq. ft. portfolio deal

An industrial outdoor storage property in Morris County has changed hands as part of a 10-state portfolio acquisition by Alterra IOS, an affiliate of the Philadelphia-based real estate firm.

Retail
Greek restaurant takes 1,300 sq. ft. at Larken-owned retail, office park in Hillsborough

Larken Associates has welcomed a new restaurant to Kingsbridge Center, a nearly 51,000-square-foot retail and office property in Hillsborough.

Featured
New Brunswick-based DIGroup touts design work, completion of Philly transfer station

From left: Pictured at the City of Philadelphia Northwest Transfer Station are members of the DIGroup Architecture team: Paul Graebener, senior project manager; Swarupa Samant, principal; Vince Myers, president and cofounding principal; and Scott Hoffman, principal. — Courtesy: DIG By Joshua Burd DIGroup Architecture is marking the completion of a…

Residential & Mixed Use
Developer sells four-year-old, 232-unit Belleville rental complex for $80 million, JLL says

Klein Enterprises has sold a 232-unit luxury apartment property in Belleville, the Maryland-based developer’s first project in New Jersey, in an $80 million deal arranged by JLL.

Industrial
Woodmont, Jingoli secure 96,000 sq. ft. lease at new South Amboy warehouse

A logistics firm has taken 96,000 square feet in South Amboy, filling more than half of a newly built warehouse facility by Woodmont Industrial Partners and Joseph Jingoli & Son. Inc.