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.

Industrial
Cervenka, PREMIER break ground on 119,000 sq. ft. Denville warehouse for Zippy Shell

Construction is underway on a nearly 119,000-square-foot industrial building in Denville that will be home to a fast-growing moving and storage company.

Professional Services
NAIDB’s Gerace promoted to vice president

NAI DiLeo-Bram & Co. has promoted broker Kyle Gerace to vice president, touting his role in several major industrial deals and in strengthening the firm’s standing in the market.

Office
WCRE: Multitenant 50,000 sq. ft. office building in Marlton changes hands

An investor has acquired a more than 50,000-square-foot office building in the Marlton section of Evesham Township, in a newly announced deal by Wolf Commercial Real Estate.

Finance & Capital Markets
Owner of 108,000 sq. ft. Chatham retail center secures $8.5 million loan, Cronheim says

A local operator has closed on $8.5 million in financing for a grocery-anchored shopping center in Chatham, in a newly announced transaction by Cronheim Mortgage.

Featured
Greenbaum Rowe mourns loss of Wendell A. Smith, name partner and distinguished real estate attorney of five decades

Greenbaum, Rowe, Smith & Davis LLP has announced the passing of Wendell A. Smith, a prominent, well-respected real estate lawyer and name partner who practiced in the state for more than 50 years.

Residential & Mixed Use
Kushner opens 265-unit rental property after redeveloping East Hanover office building (SLIDESHOW)

Kushner has welcomed its first residents to a new 265-unit luxury apartment property in East Hanover, where it has brought new life to the former site of an aging office building.

Professional Services
Investment sales broker Avanzato joins NAI Hanson as part of new institutional services team

Real estate services firm NAI James E. Hanson has launched a new team focused on institutional clients, one that includes newly hired broker Jordan Avanzato as a senior managing director.

Finance & Capital Markets
JLL: Seagis nabs $184 million in financing for New Jersey, Florida industrial portfolio

Seagis Property Group has closed on more than $184 million in financing for a combined 1.5 million square feet of industrial space in New Jersey and South Florida.

Community
Cornhole for a Cause, popular AEC industry fundraiser, returning May 1 to Tranquility Farm

Members of the state’s design and construction community are gearing up for the 9th annual Cornhole for a Cause tournament in Morris County, a popular networking opportunity and fundraiser that will support United Way of Northern New Jersey.

Finance & Capital Markets
Tishman Speyer lands $331 million loan for 924-unit second phase of Jersey City project

Tishman Speyer has secured a $331 million construction loan for a 924-unit apartment tower in Jersey City, the second piece of a two-phase development along the Hudson River.