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.

Professional Services
Veteran broker joins Sheldon Gross as V.P. for multifamily sales, redevelopment

Sheldon Gross Realty has named a new vice president for multifamily investment sales and redevelopment, the West Orange-based firm announced.

Residential & Mixed Use
Russo details start of 297-unit rental project at Newark’s Broad Street station

Russo Development has broken ground in Newark on a project that will bring nearly 300 apartments to a site just north of Interstate 280 and NJ Transit’s Broad Street station.

Finance & Capital Markets
STRO, KRE ink $60 million refi of new 205,000 sq. ft. Woodland Park industrial building

The STRO Cos. and Kushner Real Estate Group have secured $60 million to refinance a new 205,000-square-foot industrial development in Woodland Park.

Industrial
Specialty foods distributor inks 5,000 sq. ft. industrial lease in Somerset, BRC says

A food distributor has taken 5,000 square feet of industrial space in Franklin’s Somerset section, in a newly announced deal by Bussel Realty Corp.

Retail
Renaissance Properties adds three tenants at Burlington County town center project

Three new retail tenants are coming to Renaissance Properties’ mixed-use, downtown-style development in the Burlington County township of Chesterfield.

Finance & Capital Markets
AST Financial, Summit Capital tout $51 million in homebuilder loans year to date

Lending platforms AST Financial and Summit Capital Partners have closed more than $51 million in construction financing year to date in 2022, the firms announced Tuesday.

Residential & Mixed Use
Accurate hits milestone, leases 200 units at new Linden rental property

Renters have leased more than 85 percent of a new 234-unit luxury apartment property in downtown Linden, development firm Accurate announced this week.

Industrial
Penwood adds 110,000 sq. ft. Meadowlands industrial property, in Chaus-brokered deal

An investment manager has acquired a nearly 110,000-square-foot industrial building in the Meadowlands, in a recent transaction by Chaus Realty.

Finance & Capital Markets
JLL: Developer secures $19 million loan for new 60-unit Weehawken rental building

A private developer has landed $19 million in financing for a new 60-unit apartment building in Weehawken, under a deal arranged by JLL.

Industrial
C&W inks trade of 73,000 sq. ft. industrial portfolio, storage lot in Linden

A logistics firm has purchased two industrial buildings and an adjacent outdoor storage lot in Linden for an undisclosed price, according to brokers with Cushman & Wakefield.