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.

Residential & Mixed Use
Fort Lee’s Horizon House taps architect Steven Kratchman for master-plan, renovations

The board of Horizon House, a large multifamily complex in Fort Lee, has appointed Steven Kratchman Architect PC of New York to create a long-range master plan that will be the first phase of a longer-term strategy to reinvigorate the residential property.

Office
Investment team buys Newark office buildings, parking garage for $80 million

An investment group has acquired two office buildings and a parking garage in downtown Newark for $80 million, with plans to spend another $70 million to reposition the properties.

Industrial
Lincoln Equities Group sells Bayonne property set to become 886,000 sq. ft. UPS package hub

Lincoln Equities Group has sold a massive development tract in Bayonne that will soon be home to a nearly 900,000-square-foot regional hub and distribution center for UPS.

Office
Birch Group adds ex-JLL, Mack-Cali leasing exec

The Birch Group has made another addition to its team, hiring a former broker and Mack-Cali Realty Corp. executive as it continues to grow its high-end office holdings in New Jersey.

Government & Public Policy
EDA approves rules, set to accept applications for new Aspire gap financing program

State officials are set to begin taking applications under a new incentive program that will look to provide gap financing to commercial and residential projects across New Jersey.

Health Care & Education
NAI Hanson inks sale of Riverdale medical office building to veterinarian

The owner of a veterinary practice has acquired a 6,200-square-foot medical office building in Riverdale, under a newly announced deal by NAI James E. Hanson.

Health Care & Education
Summit Health debuts 30,000 sq. ft. office at new Montclair arts campus

Summit Health has opened the doors to a new 30,000-square-foot office in Montclair, in one of the first pieces of a new mixed-use development near the acclaimed Wellmont Theater.

Health Care & Education
Atkins sells 250,000 sq. ft. medical office portfolio in Northeast, Midwest

Atkins Cos. has sold a six-building, 250,000-square-foot medical office portfolio in four states, as it turns its focus to new acquisitions after its longtime ownership of the properties.

Retail
Prism, UPS Store ink 1,100 sq. ft. lease at new Woodbridge rental property

The UPS Store is coming to the base of a luxury apartment complex in downtown Woodbridge, marking the second retailer at the newly completed property by Prism Capital Partners.

Retail
Silbert to lead retail leasing for Sanzari medical arts building in Hackensack

Alfred Sanzari Enterprises has tapped Silbert Realty & Management Co. as its retail leasing agent for a prominent, 85,000-square-foot medical office property in Hackensack.