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.

Residential & Mixed Use
Cervelli: Three-building, 36-unit rental property in Jersey City trades for $4.9 million

A longtime owner has sold a three-building, 36-unit apartment property in Jersey City for $4.9 million, in a newly announced deal by Cervelli Real Estate.

Retail
CBRE touts completion of 60 net-lease deals in 2022 by Mid-Atlantic team

Demand for net-leased investment properties is holding strong in the region, despite climbing interest rates, following a healthy year by a CBRE brokerage team focused on the asset class.

Office
Sanzari, oncology network ink 5,500 sq. ft. lease at Glenpointe

An oncology network has moved to Teaneck after leasing nearly 5,500 square feet at Alfred Sanzari Enterprises’ flagship office campus in the township.

Industrial
Stonemont closes on Passaic parcel, plans 296,000 sq. ft. spec industrial development

Stonemont Financial Group has acquired some 20 acres in Passaic where it plans to build nearly 300,000 square feet of new high-end industrial space just off Route 21.

Events
Cushman’s Donnelly among honorees slated for NAIOP New Jersey’s 36th annual gala

Veteran office broker Robert Donnelly will receive NAIOP New Jersey’s lifetime achievement award later this year, one of several honorees unveiled Thursday by the commercial real estate association.

Office
AEP, Valley Health ink 23,000 sq. ft. office lease in Paramus, C&W says

American Equity Partners has signed a deal to bring a new health care tenant to a nearly 120,000-square-foot office building in Paramus, brokers with Cushman & Wakefield said.

Finance & Capital Markets
Wilcox sources $10 million permanent loan for Russo rental property in Union Twp.

Russo Development has secured $10 million in permanent financing for a two-building, 88-unit multifamily property in Union Township, in a transaction arranged by G.S. Wilcox & Co.

Retail
Café, dentist coming to retail space at new Denholtz apartment building in Red Bank

Two new commercial tenants are coming to Denholtz Properties’ recently delivered, ground-up development in Red Bank’s West Side neighborhood, the firm announced Thursday.

Retail
Vantage Commercial: Miracle-Ear leases final space at Cherry Hill retail center

A hearing aid company has taken the last available unit at a Cherry Hill shopping center, in a newly announced transaction by Vantage Commercial.

Residential & Mixed Use
East Orange development site slated for 113 units sells for $4.15 million

A developer has sold a parcel in East Orange with approvals in place to build 113 market-rate apartments, in a newly announced deal by CBRE.