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.

Professional Services
Greenbaum Rowe taps Mlenak as redevelopment, land use co-chair

Greenbaum Rowe Smith & Davis LLP has named a new co-chair of its redevelopment and land use department.

Professional Services
Conte takes over as SIOR New Jersey chapter president

A veteran broker with The Blau & Berg Co. has taken the reins as the Society of Industrial and Office Realtors’ New Jersey chapter president.

Finance & Capital Markets
Northmarq sources $67 million in financing for 376-unit Applied housing portfolio

The owner of three affordable housing properties in Hudson County has secured nearly $67 million in financing for the portfolio, according to an advisory team with Northmarq.

Finance & Capital Markets
STRO refis Morris, Union industrial assets for $22 million

The STRO Cos. has refinanced warehouses in Morris and Union counties for a combined $22 million, the Ridgewood-based firm announced Tuesday.

Office
Parsippany office building trades for $4.9 million, CBRE says

An investor has purchased an 85,000-square-foot office building in Parsippany for $4.9 million, under a deal arranged by CBRE.

Health Care & Education
Fennelly: Buyer wanted for 50,000 sq. ft. R&D, manufacturing complex in Plainsboro

The owner of a pharmaceutical research and manufacturing complex in Plainsboro has put the property on the market for sale, brokerage firm NAI Fennelly said Tuesday.

Professional Services
McManimon adds associate to real estate, redevelopment team

McManimon, Scotland & Baumann has welcomed a new associate to its team of redevelopment and real estate attorneys.

Professional Spotlight
C&W adds veteran multifamily broker as vice chairman in New Jersey

Cushman & Wakefield has made another key addition in New Jersey, hiring a veteran broker who will help bolster its investment sales team in the multifamily sector.

Office
Fast-growing Jersey City tech firm shows need, potential for post-pandemic office space

The look, feel and function of the post-pandemic workplace is still uncertain, but a technology firm’s recent expansion in Jersey City is a reminder of why companies will still need office space going forward.

Finance & Capital Markets
Greystone: MBC inks $30 million construction loan to kick off Jersey City redevelopment

A developer has landed a $30 million construction loan for an 80-unit apartment building in Jersey City, according to a debt placement team with Greystone.