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
C&W: Owner of 730,000 sq. ft. Novo Nordisk campus in Plainsboro refis for $211 million

An asset manager has secured more than $210 million to refinance a nine-building, 58-acre campus in Plainsboro that serves as Novo Nordisk’s North American headquarters.

Residential & Mixed Use
Advance breaks ground on 399-unit rental project in growing Harrison redevelopment area

Advance Realty Investors has broken ground on nearly 400 new apartments in Harrison, in what will be the latest addition to a 35-acre stretch of the town’s waterfront redevelopment zone.

Industrial
Larken eyes start of construction at 150,000 sq. ft. flex campus in Flemington

Larken Associates is set to begin construction on a four-building, 150,000-square-foot flex industrial park in Flemington, where leasing is already underway.

Professional Spotlight
RC Andersen to join STO Building Group, as firms eye growth in industrial sector

RC Andersen Construction, a Fairfield-based contractor, is joining the STO Building Group in a merger aimed at helping both firms expand their foothold in the industrial market.

Retail
Bridgewater retail property trades for $4.7 million, Marcus says

A buyer has paid nearly $4.7 million for a multitenant retail property in Bridgewater, in a newly announced transaction by Marcus & Millichap.

Retail
Midtown Commercial inks $1.4 million sale of Randolph shopping center

A neighborhood shopping center in Morris County has changed hands for $1.4 million, under a deal arranged by Midtown Commercial Realty.

Roundtable
After pushback, Paramount prepares for latest adaptive reuse project in downtown Newark

A developer is moving ahead with plans to build 80 new apartments and ground-floor retail space inside a historic building in downtown Newark, following backlash from members of a congregation that had been based at the property for some four decades.

Finance & Capital Markets
JLL, Progress Capital source $114 million loan for Newark office, parking portfolio

A joint venture has landed a nearly $114 million loan to purchase and reposition two office buildings and a parking garage in downtown Newark, according to a debt advisory team.

Office
Shipping firm inks 10,000 sq. ft. office lease in Jersey City, C&W says

Cushman & Wakefield has negotiated a long-term office lease in Jersey City for ZIM American Integrated Shipping.

Retail
Home goods store leasing 13,000 sq. ft. to backfill ex-Rite Aid in Union City

Lee & Associates NYC has represented Everyday Savings, a home goods department store, in a 12,976-square-foot sublease in Union City.