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.

Finance & Capital Markets
Parsippany developer lands $91 million construction loan, breaks ground on 275 rentals

A developer has secured $91 million in construction financing for 275 apartments in Parsippany, helping to kick off the transformation of a former suburban office park.

Residential & Mixed Use
Longtime owner sells Orange County apartments for $11 million, Kislak says

A family ownership group has sold a 77-unit apartment complex in New York’s Orange County for nearly $11 million, in a newly announced deal by The Kislak Co. Inc.

Industrial
Flex warehouse in Franklin Lakes fetches $3.8 million, Lee & Associates N.J. says

An investor has purchased a nearly 18,000-square-foot flex warehouse in the Bergen County borough of Franklin Lakes, according to a team with Lee & Associates New Jersey.

Retail
Auto repair shop eyes expansion after buying Hackensack building, NAI Hanson says

A tenant at an auto repair building in Hackensack is planning to expand after buying the 22,000-square-foot property, in a newly announced deal by NAI James E. Hanson.

Editor’s Note
Shifting gears

Camden city officials are now focusing on quality-of-life improvements that they feel will help draw new residents, following decades of population declines and years of corporate and institutional projects spurred by lucrative, often-controversial tax breaks from the state,

Retail
JLL: Buyer wanted for 91,000 sq. ft. shopping center on Route 46

The owner of a nearly 91,000-square-foot retail center in Woodland Park has put the property on the market for sale, in a new offering by JLL’s New Jersey capital markets team.

Industrial
Saxum boosts industrial platform with new director of investments

Saxum Real Estate has welcomed a new director of investments for its industrial platform, tapping a veteran executive to spearhead its growth in the asset class.

Office
JLL: Camden County takes 154,000 sq. ft. to complete lease-up of Cherry Hill office building

The owner of a Cherry Hill office building has leased more than 150,000 square feet to Camden County, capping a two-year string of deals to bring the property to full occupancy.

Residential & Mixed Use
J.G. Petrucci adds senior housing industry veteran as managing director

J.G. Petrucci Co. Inc. has named a new managing director of senior housing as it looks to grow its footprint in the niche asset class.

Office
NAI DiLeo-Bram inks 34,000 sq. ft. in leases at Edison office complex

Three tenants have combined for nearly 34,000 square feet in leasing volume at a three-building, 264,000-square-foot office park in Edison, according to NAI DiLeo-Bram & Co.