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.

Office
NAI Hanson: Longtime tenant at Park Ridge office building signs 12,000 sq. ft. renewal

An insurance company has signed a renewal at a Park Ridge office building, where it occupies more than 12,000 square feet.

Deals
Education tenants add locations in Paramus, Fairview

A landlord in Bergen County has signed two leases with education tenants for a combined 6,500 square feet, under a pair of deals announced by Lee & Associates New Jersey.

Industrial
NAI Mertz inks 23,000 sq. ft. industrial, flex sale in Vineland

A glass and door business has sold a nearly 23,000-square-foot commercial property in Vineland, under a newly announced transaction by NAI Mertz.

Industrial
Woodmont completes 255,000 sq. ft. renewal at Georgia industrial building

Woodmont Industrial Partners has secured a key renewal outside New Jersey, inking a nearly 255,000-square-foot commitment with a logistics firm at a property south of Atlanta.   

Retail
Grocery-anchored center in Denville trades for $23 million, C&W says

An investment firm has acquired a grocery-anchored shopping center in Denville for more than $20 million, under a newly announced sale by Cushman & Wakefield.

Finance & Capital Markets
CMC inks $11 million refi for 35-unit rental project in Fanwood

The owner of a newly completed, 35-unit apartment building in Fanwood has refinanced for $11 million, in a transaction arranged by Commercial Mortgage Capital.

Health Care & Education
Atkins sells 39,000 sq. ft. medical office building in West Orange

Atkins Cos. has sold a 38,500-square-foot medical office building in West Orange, marking the culmination of what it says is a 20-year investment in the property.

Finance & Capital Markets
Kennedy Funding closes $1.5 million loan for Detroit medical facility

Kennedy Funding has closed a $1.5 million loan for the owner of a health care facility in Detroit, where plans include using the site for testing and treating COVID-19 patients.

Office
NKF: Large deals boosted Q1 office market, with COVID-19 impact now looming

New Jersey’s office market saw two major leases and a pair of blockbuster sales in the first quarter, headlining an active start to the year before the onset of the coronavirus crisis.

Residential & Mixed Use
Russo launches virtual tours at Union rental project

With interest still strong at its new luxury rental complex in Union, Russo Development has launched a virtual leasing platform to help maintain that momentum.