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.

People
STRO details new additions, promotions to bolster leadership and support growing portfolio

The STRO Cos. has announced a series of key promotions and new leadership appointments to support its growing real estate holdings and tenant roster across multiple regions.

Professional Services
MHS Architecture elevates Scheetz to associate

MHS Architecture has promoted David Scheetz to associate, touting his role in growing and setting the direction of the firm since joining its team more than a decade ago.

Residential & Mixed Use
Community Investment Strategies to preserve affordable senior housing in Lambertville

Community Investment Strategies has secured more than $15 million in financing to preserve and renovate an 86-unit affordable senior housing property in Lambertville.

Retail
Café leases 1,100 sq. ft. to help fill Rochelle Park retail center, Azarian says

A new quick-service café is coming to Rochelle Park after taking space at a highly visible shopping center, in a newly announced deal by Azarian Realty Co.

Finance & Capital Markets
Ironstate, Panepinto refi Jersey City high-rises for $340 million in deal by JLL, BlueGate

Ironstate Development Co. and Panepinto Properties have secured $340 million to refinance a two-building, 938-unit multifamily property in downtown Jersey City.

People
Axria taps Reeves as development engineering manager, Ryan as CFO

Real estate firm Axria has made two key additions, hiring Daniel Reeves as a development engineering manager and William Ryan as chief financial officer.

Retail
LMC: Deals with Burlington, Marshalls among newest leases at Blue Star Shopping Center

Burlington is coming to the revitalized Blue Star Shopping Center in Watchung, in one of several newly announced leases at the property by Levin Management Corp.

Residential & Mixed Use
Lennar eyes debut of new housing developments in central, southern New Jersey

Lennar has expanded its presence in the state with the arrival of four new residential developments in central and southern New Jersey.

Finance & Capital Markets
Spark GHC snags $19.5 million loan to acquire Wayne hotel, Cronheim says

An investor has landed a $19.5 million acquisition loan in connection with a five-year-old hotel property in Wayne, according to brokers with Cronheim Hotel Capital.

Industrial
CBRE: Faropoint buys Florham Park facility, trophy maker’s longtime home, for $9.3 million

Faropoint has acquired a nearly 51,000-square-foot production and warehouse facility in Florham Park for $9.25 million, brokers with CBRE announced this week.