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.

Finance & Capital Markets
Newmark: Owner of net-leased portfolio, including N.J. warehouse, refis for $525 million

The owner of a multistate, 6.8 million-square-foot industrial portfolio that includes a nearly 143,000-square-foot warehouse in Morris County has refinanced for $525 million.

People
JDA Group names vice president of operations after latest promotion

JDA Group LLC has announced another promotion on its Hoboken-based team, tapping a property manager as its new vice president of operations.

Industrial
NAI Hanson inks sale of 28,000 sq. ft. Hackensack industrial building

Brokers with NAI James E. Hanson have announced the sale of a fully leased, 28,000-square-foot industrial building in Hackensack.

Industrial
Fennelly: Manufacturer sells 28,000 sq. ft. Monroe building, longtime HQ for $3.8 million

A manufacturer has sold a nearly 28,000-square-foot light industrial building in Monroe Township for $3.8 million, under a deal arranged by NAI Fennelly.

Deals
Somerset County commercial, apartment building sells for $332,000, Sheldon Gross says

An office and apartment building in Manville has changed hands for $332,000, in a deal arranged by brokers with Sheldon Gross Realty.

Residential & Mixed Use
Pennrose executives step into CEO, president roles as part of new-look leadership team

Multifamily developer Pennrose has started 2022 with a newly configured leadership team, tapping two of its longtime executives for the roles of CEO and president.

Finance & Capital Markets
JLL inks $10 million loan for Cohen warehouse deal in Jersey City

An investment group has purchased a nearly 66,000-square-foot warehouse in Jersey City with the help of a $10.25 million acquisition loan, JLL’s New Jersey capital markets team announced.

Industrial
Going fast: New report details shrinking lease-up times for spec warehouse space

Newly built speculative industrial space in northern New Jersey is leasing in less than two months on average, in the latest sign of the market’s ongoing supply and demand imbalance.

Office
C&W: Pentaurus adds 76,000 sq. ft. Morris County office building for $9.7 million

An investment firm is set to begin renovations at a Morris County office building after purchasing the property for more than $9.7 million, in a deal arranged by Cushman & Wakefield.

Professional Services
Connell Foley adds new partner, associate to Cherry Hill-based real estate team

Connell Foley LLP has bolstered its team of real estate attorneys in southern New Jersey with the addition of two veteran practitioners.