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
Hartz completes Cranford rental project, marking transformation of ex-office property

Hartz Mountain Industries has brought new life to another aging office property in New Jersey, delivering 250 apartments to a sprawling site near Cranford’s Hyatt Hills Golf Course.

Retail
CBRE: Goldman Sachs unit sells 111,000 sq. ft. Newark retail center for $38 million

An affiliate of Goldman Sachs has sold a well-known, grocery-anchored retail property in Newark for $37.5 million, brokers with CBRE announced Tuesday.

Office
Behavioral health group takes 4,800 sq. ft. in Somerset, Sheldon Gross says

A behavioral health organization has leased more than 4,800 square feet at a newly renovated office building in the Somerset section of Franklin, in a deal arranged by Sheldon Gross Realty.

Finance & Capital Markets
Kennedy Funding closes $8 million in land loans in two countries in 14 days

Kennedy Funding has closed four land loans totaling more than $8 million in recent weeks, including three outside its home state of New Jersey and a fourth in South America.

Residential & Mixed Use
New 42-unit apartment building in Plainfield on the market for sale, IPRG says

A developer has tapped Investment Property Realty Group to sell a newly completed, 42-unit apartment building across from NJ Transit’s Netherwood station in Plainfield.

Industrial
Osmo, AI-powered scent startup, takes 58,000 sq. ft. at Bridge, Elberon warehouse in Elizabeth

A startup that uses artificial intelligence to create and detect smells has leased more than 58,000 square feet at a new industrial building in Elizabeth.

People
Shiff, veteran CRE executive, joins STRO as chief operating officer

The STRO Cos. has tapped longtime commercial real estate executive Gabriel Shiff as its new chief operating officer, the Ridgewood-based firm announced Monday.

Residential & Mixed Use
Kushner launches leasing at 307-unit luxury senior housing property in Fair Lawn

Leasing is underway at a collection of more than 300 upscale, age-restricted apartments in Fair Lawn as part of the latest addition to Kushner’s portfolio of new suburban rental properties.

People
Denholtz adds former Related executive Callahan as general counsel

Denholtz has added to its leadership team with the hiring of Jonathan Callahan, tapping the former Related Management Co. executive as its general counsel.

Finance & Capital Markets
KRE lands $90 million loan to refi 285-unit rental project in Marlboro, C&W says

KRE Group has closed on $90 million in financing for a new 285-unit luxury apartment community in Marlboro, brokers with Cushman & Wakefield announced Monday.