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
District 15Fifteen adds seven dining, fitness tenants as Parsippany project hits 65 percent leased

By Joshua Burd The team behind the mixed-use District 15Fifteen project in Parsippany has filled two-thirds of the property’s retail space, with momentum building after a recent surge in leasing. According to Pierson Commercial, the broker for the Route 10…

Finance & Capital Markets
Secaucus industrial owner lands $111 million loan for 800,000 sq. ft. portfolio, Wilcox says

The owner of more than 800,000 square feet of industrial space in northern New Jersey has secured $110.5 million in permanent financing, in a deal arranged by G.S. Wilcox & Co.

Industrial
New tenant at Harrison industrial complex takes 214,000 sq. ft., Blau & Berg says

A private occupier has leased more than 214,000 square feet of industrial space at a well-known property in Harrison, in a newly announced deal by The Blau & Berg Co.

Industrial
RRNNJ: FedEx signs 125,000 sq. ft. renewal at CenterPoint facility in Orange County

FedEx Corp. has renewed its lease for a key facility in New York’s Hudson Valley, where it occupies 125,000 square feet under a deal with CenterPoint Properties.

Finance & Capital Markets
Kennedy Funding eyes busiest Q4 in firm history with eight land loans in eight weeks

Kennedy Funding has closed eight land loans in just eight weeks, citing heightened demand in a segment of the market that few lenders are willing to meet.

Residential & Mixed Use
HVPG details plan to preserve, update newly acquired affordable housing in Asbury Park

Hudson Valley Property Group has acquired a 170-unit multifamily complex in Asbury Park, expanding a portfolio that now includes nearly 30 properties in the state.

Office
NJ Transit, Horizon exploring plan to redevelop Newark office sites and build new 250,000 sq. ft. headquarters for health insurer

The site of two office buildings in downtown Newark could become up to 1,000 apartments and retail space under a proposal that involves the prospect of a new ground-up, 250,000-square-foot headquarters for Horizon Blue Cross Blue Shield of New Jersey.

Residential & Mixed Use
Russo, Terminal debut 216-unit rental project as second phase of Orange development

Russo Development has unveiled a second apartment building in Orange, delivering another 216 units along NJ Transit’s Morris & Essex Line and adjacent to a project completed in 2023.

Residential & Mixed Use
TAY Investments eyes 365-unit Jersey City rental project, its largest to date

TAY Investments has detailed plans to build 365 apartments at a recently acquired site in Jersey City, in what would be the largest project to date in the firm’s fast-growing portfolio.

Office
NAIDB: Westfield office building to become swim school after $2.2 million sale

A swim school operator has acquired a 9,700-square-foot office building in Westfield for more than $2.2 million, according to a listing team with NAI DiLeo-Bram & Co.