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
Cronheim: Owner of newly built Hillsborough apartments snags $49 million permanent loan

The owner of a new mixed-use town center development in Hillsborough has secured a $49 million permanent take-out loan, according to an advisory team with Cronheim Mortgage.

Finance & Capital Markets
JLL inks $26 million construction loan for 115-unit luxury rental project near Princeton

A developer has landed a $26.3 million construction loan for a planned 115-unit luxury apartment property outside Princeton, brokers with JLL announced Wednesday.

Retail
Becker affiliate sells 30,000 sq. ft. Mount Laurel retail asset for $4.9 million, C&W says

An affiliate of The Becker Organization has sold a 7-Eleven-anchored retail property in Mount Laurel for $4.9 million, in a deal arranged by Cushman & Wakefield.

Retail
Med spa concept taps R.J. Brunelli as broker for central, southern New Jersey region

Franchise brand VIO Med Spa has picked R.J. Brunelli & Co. LLC as its exclusive real estate broker for new locations in central and southern New Jersey and the Philadelphia area.

Finance & Capital Markets
JLL: Developer inks $18 million financing package for new rentals in West New York

A private developer has secured construction financing for a 48-unit multifamily project in West New York and a second loan for an existing property in the town, brokers with JLL said.

Top News
Longtime broker Sheldon Gross, New Jersey commercial real estate mainstay, dies at 94

Sheldon Gross Realty is mourning the loss of Sheldon A. Gross, a longtime New Jersey commercial real estate broker and founder of the West Orange-based real estate services firm.

Finance & Capital Markets
Wells Fargo taps new commercial banking division sales executive in metro N.J., N.Y.

Wells Fargo has named a new commercial banking division sales executive for the metro New Jersey and New York region.

Office
Office user takes 1,600 sq. ft. in Avenel, NAI Hanson says

NAI James E. Hanson has negotiated a lease for nearly 1,600 square feet of office space in the Avenel section of Woodbridge.

Professional Services
New York City SCA taps DIGroup as design architect for new Bronx elementary school

The New York City School Construction Authority has selected DIGroup Architecture to design a new ground-up elementary school in the Bronx, the practice announced.

Events
IOREBA program to highlight legal limitations and liabilities in commercial real estate

The Industrial and Office Real Estate Brokers Association will welcome industry leaders next week for its fall kickoff event in Roseland, where panelists will tackle a key legal topic.