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
Five Guys location under new ownership, renegotiates lease at Route 22 shopping center

A Five Guys location at Watchung’s Blue Star Shopping Center is under new ownership and has renegotiated its lease, according to Levin Management Corp., the leasing and managing agent for the 420,000-square-foot property on Route 22.

Residential & Mixed Use
North Bergen condo building inks six contracts in February, developer says

A new upscale condominium tower in North Bergen is gaining momentum, securing six contracts last month for its collection of 70 homes along the Hudson River.

Professional Services
Eight New Jersey brokers among Avison Young’s top producers in 2021

Avison Young has recognized eight New Jersey brokers among its top producers last year.

Industrial
Advance, Greek sign two leases totaling 491,000 sq. ft. at new Logan logistics park

A development team has preleased the latest phase of a 3.2 million-square-foot industrial park in Logan Township, where two logistics firms will occupy a combined 491,000 square feet.

Residential & Mixed Use
KABR adds 138-unit Bayonne rental property for $50 million

KABR Group has purchased a 138-unit luxury apartment building in Bayonne for nearly $50 million, in a deal arranged by brokers with JLL.

Industrial
Faropoint acquires 62,000 sq. ft. Meadowlands building for $17.7 million

Investment firm Faropoint has acquired a 62,000-square-foot industrial building in Moonachie, in a newly announced deal valued at nearly $18 million.

Professional Services
Sheldon Gross Realty names new assistant vice president

Sheldon Gross Realty has promoted Matthew Leonelli to the role of assistant vice president.

Retail
Fitness concepts combine for 3,800 sq. ft. in Shrewsbury, Katz & Associates says

Two new fitness tenants are coming to a Shrewsbury shopping center, under a set of newly completed transactions by Katz & Associates.

Office
Larken Associates negotiates lease for flexible workspace at Amwell Mall in Hillsborough

Larken Associates has negotiated a lease with NJ Real Estate Boutique at the Suite Life at Amwell Mall, a 4,246-square-foot next-generation workspace for corporate professionals, freelancers and contractors in Hillsborough.

Finance & Capital Markets
Cronheim inks $6.5 million loan for New Providence industrial flex building

The owner of a nearly 90,000-square-foot industrial flex building in New Providence has secured $6.5 million in financing, according to brokers with Cronheim Mortgage.