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.

Deals
BRC: Investor completes 1031 exchange after $37 million industrial sale in Bridgewater

A firm that recently sold a five-building industrial complex in Bridgewater has acquired a retail center in the Southeast as part of a Section 1031 like-kind exchange.

Professional Services
Steady hands: How Genova Burns is helping real estate clients navigate rising rates, market shifts

Genova Burns, home to one of the state’s most prominent real estate practices, is as busy and as integral to the industry as it was before the pandemic and before the Federal Reserve began to raise interest rates last year. Increasingly, though, the Newark-based firm is helping clients either play defense or guide them through this period of uncertainty.

Finance & Capital Markets
JLL suburban tristate capital markets team inks $4.7 billion in 2022 sales

Brokers with JLL’s suburban tristate capital markets team are forecasting a busy 2023 after a year in which they completed some $4.7 billion in sale transactions.

Finance & Capital Markets
Marcus arranges $13.3 million acquisition loan for Sussex retail center

An investor has secured a $13.3 million acquisition loan for a grocery-anchored shopping center in Sussex County, in a deal arranged by Marcus & Millichap.

Residential & Mixed Use
Owner of 24-unit North Bergen apartment, retail building sells after 25 years, Redwood says

The longtime owner of a 24-unit apartment and retail building in North Bergen has sold the property for $2.5 million, according to a broker with Redwood Realty.

Professional Services
Veteran architect Weston begins term as AIA New Jersey chapter president

A veteran of the design and construction industry has kicked off his tenure as president of the American Institute of Architects’ New Jersey chapter.

Top News
Wellness practice grows at Mission 50 co-working, office building in Hoboken

A holistic health and wellness practice is expanding its footprint in Hoboken as a tenant at the co-working and business center known as Mission 50.

Industrial
Lowe’s preleases 103,000 sq. ft. Hamilton warehouse project, Corporate America Realty says

Lowe’s Home Centers Inc. has leased more than 100,000 square feet of new industrial space in Hamilton, filling the second piece of a speculative development near Interstate 295.

Industrial
JLL: Rockefeller sells 454,000 sq. ft. Lehigh Valley warehouse to Link for $91 million

Rockefeller Group has sold a nearly 454,000-square-foot industrial building in Pennsylvania’s Lehigh Valley for $91 million, in a newly announced deal by JLL.

Professional Services
Sax names Top 50 accounting firm veteran as new CFO

Sax LLP, the Parsippany-based accounting, tax and business advisory firm, has named a new chief financial officer.