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.

NAIDB: New Jersey CRE market shows strength across property types, despite headwinds

Commercial real estate in New Jersey continues to draw investors and tenants at a robust pace, despite economic uncertainty, with even less-heralded asset classes such as office and retail showing signs of health in recent months.

Industrial

Brookfield buys newly built, 1 million sq. ft. industrial park at Exit 7A in Jackson Twp.

Brookfield Properties has acquired more than 1 million square feet of newly delivered industrial space in Jackson Township, in a deal arranged by Cushman & Wakefield.

Retail

Marcus inks sale of 9,400 sq. ft. Millburn retail asset for $3.2 million

A private investor has purchased a nearly 10,000-square-foot retail center in downtown Millburn for $3.2 million, brokers with Marcus & Millichap announced Wednesday.

Finance & Capital Markets

Owner of 108-unit Little Ferry rental complex refinances for $11 million, Northmarq says

A garden apartment owner in Little Ferry has refinanced a 108-unit complex for $11 million, according to a debt placement team with Northmarq.

Community

NJBankers recognizes Spencer Savings Bank for commitment to community service

A top trade association has honored Spencer Savings Bank for its ongoing support of community organizations and nonprofits, the Elmwood Park-based lender announced.

Industrial

Home Depot affiliate takes 196,000 sq. ft. at new Bayonne industrial building

An affiliate of Home Depot has leased nearly 200,000 square feet at a soon-to-be-built industrial property in Bayonne, in a newly announced deal by JLL.

Finance & Capital Markets

JLL inks $12 million refi for two-building, 114,000 sq. ft. industrial portfolio in Elmwood Park

Alfred Sanzari Enterprises has secured $12.2 million to refinance two Elmwood Park industrial buildings totaling nearly 114,000 square feet, brokers with JLL announced Tuesday.

Residential & Mixed Use

Sanzari, apparel maker sign 36,000 sq. ft. renewal in South Hackensack

An apparel company has signed a renewal at a South Hackensack industrial building, where it occupies more than 36,000 square feet under a lease with Alfred Sanzari Enterprises.

Residential & Mixed Use

Boutique apartment building in Bergen-Lafayette is 50 percent leased

A new 38-unit apartment building in Jersey City’s Bergen-Lafayette section is now more than 50 percent leased after hitting the market earlier this year.

Government & Public Policy

Recreational cannabis sales in New Jersey jump 46 percent, top $116 million in Q3

Sales of recreational cannabis in New Jersey rose to more than $100 million in the third quarter, showing the potential of a market that launched less than eight months ago.