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
CBRE: Restaurant, lounge leases 4,200 sq. ft. at restored Kislak Building in Newark

A new eatery is coming to downtown Newark after taking space at a historic commercial building that’s now home to high-end apartments, in a deal arranged by CBRE.

Professional Services
Ro joins RIPCO’s growing team as associate retail adviser

RIPCO Real Estate has hired Michael Ro as an associate retail adviser based in its Elmwood Park office, the brokerage firm announced this week.

Residential & Mixed Use
Amato, veteran Jersey Shore homebuilder, sworn in as NJBA board chair

The New Jersey Builders Association has installed Christopher Amato as its new chair, a key post for the influential trade association and its critical advocacy and education platform.

Industrial
Rockefeller Group sells new 241,000 sq. ft. industrial building in Piscataway to Elion Partners

Rockefeller Group has sold a newly completed, 241,200-square-foot distribution center in Piscataway, the final piece of a redevelopment that yielded more than 2.5 million square feet of modern warehouse space over the course of a decade.

Finance & Capital Markets
Rental project at Morristown station advances with $40 million construction loan, CBRE says

A developer has landed a $40 million construction loan for a planned 89-unit luxury apartment building next to NJ Transit’s Morristown station, in a newly announced deal by CBRE.

Industrial
STRO, KRE eye fall delivery for new 65,000 sq. ft. warehouse in Parsippany

STRO and KRE Group are set to begin construction on a new 65,000-square-foot industrial project that will bring new life to what was a vacant office property in Parsippany.

Finance & Capital Markets
JLL: Lightstone snags $13.5 million refi loan for 71,000 sq. ft. Union shopping center

The owner of a more than 71,000-square-foot shopping center in Union Township has closed on a $13.5 million refinancing loan for the property, brokers with JLL announced Wednesday.

Finance & Capital Markets
Kennedy Funding closes $2.5 million land loan for 63-acre St. Thomas portfolio

Kennedy Funding, the Englewood-based direct private lender, has closed a $2.5 million cash-out refinancing loan to the owner of some 63 acres of property on the Caribbean island of Nevis.

Hospitality & Tourism
P3 Properties buys landmark Meadowlands hotel, eyes rebrand with sweeping update

P3 Properties has acquired a well-known hotel in East Rutherford with plans to revitalize the 21-story, 427-room building and reintroduce it under a new brand.

Residential & Mixed Use
Russo sells 111-unit loft-style rental property in Verona for $56 million, CBRE says

Russo Development has sold a 111-unit multifamily property in Verona that it completed as part of an adaptive reuse of a historic factory building, in a deal arranged by CBRE.