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
G.S. Wilcox sources $50 million construction loan for Union rental project

A developer has secured nearly $50 million in financing to build another 266 luxury apartments at an existing site in Union, under a transaction arranged by G.S. Wilcox & Co.

Industrial
JLL: Lincoln Equities, PCCP acquire Rockland County industrial portfolio for $54 million

An industrial portfolio some 10 miles north of Bergen County has sold for more than $50 million, in a deal arranged by JLL’s Morristown-based capital markets team.

Finance & Capital Markets
Spencer inks $22 million loan in Meadowlands for global manufacturing client

Spencer Savings Bank has closed a $22 million mortgage tied to a distribution center in the Meadowlands, touting it as the single-largest transaction in its history.

Retail
Martial arts franchise expands, takes 2,800 sq. ft. in Bergen County, NAI Hanson says

A martial arts chain has leased nearly 2,800 square feet of retail space at a mixed-use building in Bergen County, according to a brokerage team with NAI James E. Hanson.

Government & Public Policy
ACDEVCO, stakeholders secure $680,000 award for Atlantic City neighborhood plan

Business leaders have secured nearly $700,000 in state funding for Atlantic City’s Chelsea neighborhood, supporting everything from streetscape improvements to outdoor fitness classes.

Office
SJP names new senior vice president for leasing, marketing

SJP Properties has named a new senior vice president to help grow the firm’s office portfolio, tenant roster and third-party construction and project management business in the region.

Industrial
CBRE: Picture frame maker relocating, acquires 45,000 sq. ft. building in Somerset

A picture frame manufacturer has acquired a roughly 45,000-square-foot industrial building in the Somerset section of Franklin, in a newly announced transaction by CBRE.

Government & Public Policy
Developers join public officials, ex-baseball stars to hail Paterson stadium revival

A development team has broken ground on a long-awaited plan to revitalize and reopen Paterson’s historic Hinchliffe Stadium, joining a host of public officials and retired baseball stars to mark the start of the $94 million project.

Finance & Capital Markets
Saxum lands $47 million loan for Philadelphia rental project, JLL says

Saxum Real Estate has secured nearly $47 million in financing for a 297-unit multifamily project in Philadelphia, according to a Morristown-based debt placement team with JLL.

Office
Psychiatry group inks 2,500 sq. ft. office lease in Cherry Hill, WCRE says

A psychiatry practice has leased 2,500 square feet of office space in Cherry Hill, under a transaction arranged by Wolf Commercial Real Estate.