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.

Residential & Mixed Use
PEEK Properties eyes launch of leasing at new 50-unit apartment building in Orange

PEEK Properties has all but completed the first of three new apartment buildings in Orange, bringing 50 units to market as it looks ahead to the remaining phases.

Finance & Capital Markets
Hoboken retail center owner refinances for $25 million, JLL says

The owner of a ShopRite-anchored retail property in Hoboken has refinanced the center for $25 million, according to a debt placement team with JLL.

Residential & Mixed Use
Jersey City condo tower posts 40 sales in 2022 amid 16 weeks of closings

The developer of a 79-story condominium tower in Jersey City has recorded dozens of sales thus far in 2022, maintaining a pace that has led to 275 closings since the building’s 2019 debut.

Office
NAI Fennelly seeking buyer for 240,000 sq. ft. Trenton office building

One of downtown Trenton’s largest office buildings is on the market for sale, in a newly announced listing by NAI Fennelly.

Residential & Mixed Use
Reynolds marks start of construction at 103-unit apartment building in Orange

Reynolds Asset Management has broken ground in Orange on a project that will bring 103 new apartments to a site just west of the city’s Highland Avenue train station.

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,