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.

Industrial
Turnbridge buys 143,000 sq. ft. South Brunswick warehouse for $24 million, eyes value-add plan

Turnbridge Equities has acquired more than 143,000 square feet of warehouse space in South Brunswick that it now plans to update with a roughly $4 million renovation.

Finance & Capital Markets
PCCP, Stonemont snag $65 million bridge loan for new 296,000 sq. ft. warehouse in Passaic

The developers of nearly 296,000 square feet of new industrial space in Passaic have secured a $65.4 million bridge loan for the project, brokers with JLL announced Monday.

Finance & Capital Markets
Greystone arranges $286 million bridge loan for 1,000-unit Capodagli portfolio

Capodagli Property Co. has closed on a $285.7 million bridge loan in connection with a portfolio of more than 1,000 apartments in the state, in a newly announced deal by Greystone.

Education
SLIDESHOW: Students, CRE leaders gather as Rutgers Center for Real Estate marks 10 years

The Rutgers Center for Real Estate welcomed industry leaders alongside alumni and staff last month as the program marked its 10th anniversary at a reception in Piscataway.

Residential & Mixed Use
Investor buys five-unit Jersey City rental building in value-add deal brokered by Cervelli

A private investor has purchased a five-unit apartment building with ground-floor retail space in Jersey City, in a deal arranged by Cervelli Real Estate & Property Management.

Industrial
Sheldon Gross: Business owner buys Hackettstown commercial building for $1.5 million

A local business has acquired a 14,000-square-foot commercial building in Hackettstown for $1.45 million, according to a broker with Sheldon Gross Realty.

Community
Local leaders, donors break ground on new Bergen County history museum

Construction is underway on a new museum that will showcase Bergen County’s storied history, part of a multiphase project that could also include a pavilion and expanded exhibit spaces.

Finance & Capital Markets
S3 Capital lends $255 million for first phase of long-awaited, 1,200-unit Edgewater project

The Maxal Group has closed on a $255 million construction loan for a planned 25-story, 381-unit apartment tower at a long-vacant and well-known parcel along the Hudson River in Edgewater.

Government & Public Policy
Ciattarelli, Sherrill touch on housing affordability in addresses to NJ Realtors, NJBA

New Jersey’s two gubernatorial hopefuls hit on familiar but critical issues last week as they spoke directly to more than 300 professionals involved in building and selling homes in the state.

Government & Public Policy
HMFA to sell up to $500 million in state tax credits to fund affordable, workforce housing

The New Jersey Housing and Mortgage Finance Agency is launching a new tax credit program meant to spur hundreds of millions in private investment in new workforce and affordable housing production across the state.