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.

Retail
Café leases 1,100 sq. ft. to help fill Rochelle Park retail center, Azarian says

A new quick-service café is coming to Rochelle Park after taking space at a highly visible shopping center, in a newly announced deal by Azarian Realty Co.

Finance & Capital Markets
Ironstate, Panepinto refi Jersey City high-rises for $340 million in deal by JLL, BlueGate

Ironstate Development Co. and Panepinto Properties have secured $340 million to refinance a two-building, 938-unit multifamily property in downtown Jersey City.

People
Axria taps Reeves as development engineering manager, Ryan as CFO

Real estate firm Axria has made two key additions, hiring Daniel Reeves as a development engineering manager and William Ryan as chief financial officer.

Retail
LMC: Deals with Burlington, Marshalls among newest leases at Blue Star Shopping Center

Burlington is coming to the revitalized Blue Star Shopping Center in Watchung, in one of several newly announced leases at the property by Levin Management Corp.

Residential & Mixed Use
Lennar eyes debut of new housing developments in central, southern New Jersey

Lennar has expanded its presence in the state with the arrival of four new residential developments in central and southern New Jersey.

Finance & Capital Markets
Spark GHC snags $19.5 million loan to acquire Wayne hotel, Cronheim says

An investor has landed a $19.5 million acquisition loan in connection with a five-year-old hotel property in Wayne, according to brokers with Cronheim Hotel Capital.

Industrial
CBRE: Faropoint buys Florham Park facility, trophy maker’s longtime home, for $9.3 million

Faropoint has acquired a nearly 51,000-square-foot production and warehouse facility in Florham Park for $9.25 million, brokers with CBRE announced this week.

Finance & Capital Markets
CBRE: New 200-unit Monmouth rental project lands $40 million permanent loan

The owner of a newly built luxury apartment property in Monmouth County has secured $40 million in permanent financing, in a deal arranged by CBRE.

Residential & Mixed Use
CrownPoint, Crossroads break ground on 125-unit, townhome-style project in Randolph

Construction is underway on what will be a collection of 125 townhomes and apartments in Randolph, in a project that will add to the stock of new rental housing in Morris County.

Office
C&W: Mountain Development sells 30,000 sq. ft. JURA headquarters building in Montvale

Mountain Development Corp. has sold a nearly 30,000-square-foot flex office building in Montvale for $5.75 million, in a newly announced deal by Cushman & Wakefield.