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.

Government & Public Policy
Rollout of affordable housing law continues as proponents score latest legal win

A law to spur the next wave of affordable housing in New Jersey has cleared another legal hurdle after a state Superior Court dismissed a challenge by a coalition of municipalities.

Retail
SITE Centers selling 1.1 million-square-foot retail center near Princeton for $138 million

SITE Centers Corp. has agreed to sell a sprawling highway retail center in West Windsor for nearly $138 million, the real estate investment trust disclosed recently.

Finance & Capital Markets
Invictus lends $60 million for new 266-unit rental project near Plainfield train station

Ramani Group has closed on a $60 million construction loan from Invictus Real Estate Partners for a planned 266-unit apartment building in downtown Plainfield.

Residential & Mixed Use
Would-be developer buys Newark mixed-use portfolio for $5.3 million, IPRG says

An investor has purchased a portfolio of 15 apartments and commercial space in Newark for $5.3 million, in a deal arranged by Investment Property Realty Group.

Office
Prudential Advisors launches new 6,600 sq. ft. office at Bell Works in Holmdel

Prudential Advisors has opened the doors to its new office at the massive Bell Works complex in Holmdel, the company announced Thursday.

Residential & Mixed Use
Columbia Bank sponsors, secures FHLBNY funds for New Jersey affordable housing projects

Investors will build or update nearly 200 affordable housing units in New Jersey with the support of Columbia Bank and newly announced funds from the Federal Home Loan Bank of New York.

Office
HQ Plaza welcomes Morristown officials, business leaders with transformation now complete

The owners of the sprawling HQ Plaza complex in Morristown have unveiled its new-look concourse, having transformed the area that connects the property’s three office towers, a Hyatt Regency hotel and a growing mix of retailers and restaurants.

Professional Services
Gibbons, Frost Brown Todd joining forces to create new coast-to-coast law firm

Gibbons PC, one of New Jersey’s most storied and influential law firms, is merging with Cincinnati-based Frost Brown Todd LLP to create a new midmarket legal powerhouse with some 800 attorneys and reach across the country.

Retail
Investor buys 53,000 sq. ft. Lawrenceville retail center for $11.4 million, Marcus says

More than 53,000 square feet of retail space in Lawrence Township has changed hands for $11.35 million, in a newly announced deal by Marcus & Millichap.

Industrial
CBRE: Morganville industrial site with 21,000 sq. ft. building trades for $6.9 million

A private investment firm has purchased a 21,000-square-foot industrial building on 4.8 acres in Marlboro for $6.9 million, brokers CBRE announced Wednesday.