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.

Retail
Insurance franchisee inks lease at mixed-use Marlton project

An insurance agency has signed a new lease at the base of a luxury apartment development in Burlington County, Vantage Real Estate Services announced this week.

Government & Public Policy
EDA opens application period for Opportunity Zone grant program

The state Economic Development Authority has begun accepting applications for a new grant program seeking to help municipalities and counties draw investors to federally designated Opportunity Zones.

Finance & Capital Markets
JLL inks acquisition loan for 104,000 sq. ft. office complex in Somerset County

A joint venture has secured financing for its acquisition of a two-building, 104,202-square-foot office complex in Somerset County, brokers with JLL announced Thursday.

Residential & Mixed Use
Buyer wanted for two-tower, 594-unit Newark development site, Meridian says

Brokers with Meridian Capital Group are seeking a buyer for a development site in downtown Newark, one that is fully approved for nearly 600 high-end apartments across two towers.

Office
Normandy, NKF ink $19.5 million sale of Princeton-area office building

Normandy Real Estate Partners has sold a nearly 114,000-square-foot office building in the Princeton submarket, under a $19.5 million deal arranged by Newmark Knight Frank.

Office
LEG touts new leases totaling 100,000 sq. ft. at Morristown-area buildings

Five tenants have combined to lease more than 100,000 square feet at a four-building, 412,000-square-foot office portfolio near downtown Morristown, Lincoln Equities Group announced.

Residential & Mixed Use
Value Cos. unveils renovations at 158-unit rental community in Bergen County

Value Cos. Inc. has completed a major upgrade of a 158-unit apartment complex in Saddle Brook, the development and management firm said this week.

Residential & Mixed Use
CBRE: Garden, high-rise apartment portfolio fetches $146 million

A longtime New Jersey apartment owner has reaped $146 million from the sale of seven properties in Essex, Monmouth and Mercer counties, brokers with CBRE said Tuesday.

Industrial
Home décor business renews for 152,000 sq. ft. in Piscataway, BRC says

A home décor company that leases nearly 152,000 square feet in Piscataway has signed a renewal, in a newly announced transaction by Bussel Realty Corp.

Office
HVAC provider moving HQ, takes 32,000 sq. ft. in Montville

A heating and cooling company is set to move its U.S. headquarters to a newly upgraded office building in Montville, under a 32,000-square-foot lease arranged by Cushman & Wakefield.