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
Developer plans new industrial space after buying Somerset office building, CBRE says

Another aging New Jersey office property could soon become industrial space, following a developer’s purchase of a 15-acre site in Franklin Township for nearly $31 million.

Finance & Capital Markets
Owner lands $110 million loan for 850,000 sq. ft. Newark industrial building

The owner of a new 850,000-square-foot warehouse and distribution center in Newark’s port district has secured $110 million in permanent financing, according to JLL.

Industrial
Herbal extracts, ingredients maker renews 55,000 sq. ft. lease in Pine Brook, Newmark says

A maker of herbal extracts and other natural ingredients has renewed its 55,000-square-foot lease at a Morris County industrial building, in a deal arranged by brokers with Newmark.

Residential & Mixed Use
CBRE inks $37 million sale of six-year-old Newark apartment building

The developer of a 152-unit luxury apartment complex in Newark’s University Heights neighborhood has sold the property for $36.5 million, according to brokers with CBRE.

Finance & Capital Markets
C&W sources $72 million refi for 280-unit Advance rental property in Harrison

Advance Realty Investors has refinanced a recently developed, 280-unit luxury apartment building in Harrison for $72 million, in a deal sourced by Cushman & Wakefield.

Office
Garibaldi: Law firm takes 6,000 sq. ft. at KRE-owned building in Chatham

A law firm is moving to downtown Chatham after inking a nearly 6,000-square-foot lease with Kushner Real Estate Group, in a newly announced transaction by The Garibaldi Group.

Health Care & Education
Dermatology, orthopedic groups sign leases at Plainsboro medical arts complex

Colliers has secured two leases totaling more than 9,000 square feet at Penn Medicine Princeton Medical Center’s Medical Arts Pavilion in Plainsboro.

Office
Birch Group acquires Long Island office campus from Onyx, DRA for $212 million

The Birch Group has made another major addition to its suburban office holdings in the region, acquiring a prominent two-building campus on Long Island for $212 million.

Retail
Investor buys 374,000 sq. ft. Morris County shopping center for $50 million

An investment firm has acquired a large Morris County shopping center for nearly $50 million, in a newly announced transaction by R.J. Brunelli & Co.

Deals
CBRE: ETS office, industrial building in Ewing trades for $19 million

Educational Testing Service has sold a 310,000-square-foot office and industrial building in Ewing for nearly $19 million, brokers with CBRE announced Tuesday.