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
Fidelco, Elberon announce start of FreezPak facility on Newark-Elizabeth border

Construction is underway on a new 140,000-square-foot freezer warehouse facility that will bring new life to an abandoned industrial site on the border of Elizabeth and Newark.

Residential & Mixed Use
Plainfield planning board approves new apartment projects, Taylor Architecture says

An architecture firm is touting approval by Plainfield’s planning board of two projects that would bring another 24 apartments to the city.

Professional Services
Langan adds to consulting team in Parsippany, Westchester offices

Langan has made two additions to its tristate consulting team, including a new hire in its Parsippany office.

Industrial
Contractor acquires 12,000 sq. ft. industrial building in Pennsauken

A sheet metal contractor is relocating to a flex industrial building in Pennsauken after acquiring the 12,000-square-foot property, according to Wolf Commercial Real Estate.

Finance & Capital Markets
Progress inks $16 million construction loan for Bronx project

The developer of a 53-unit, mixed-income residential project in the Bronx has secured a $16 million construction loan, in a transaction arranged by Progress Capital.

Industrial
E-commerce user expands by 103,000 sq. ft. at Pennsauken warehouse

An e-commerce user is expanding at a Pennsauken warehouse just months after taking occupancy at the property, according to Binswanger Commercial Real Estate Services.

Professional Services
CIANJ taps Hanson as board chair

NAI James E. Hanson President William C. Hanson has taken over as board chair of one of northern New Jersey’s top business advocacy networks.

Retail
Aberdeen shopping center owner touts debut of 34,000 sq. ft. LA Fitness

A new LA Fitness has opened its doors in Monmouth County, where it has backfilled a 34,000-square-foot space at the former site of an A&P supermarket.

Policy Page
A mid-pandemic snapshot of the CRE industry

While there has been some gradual improvement in commercial real estate deal activity from earlier this year, nearly half of those taking part in a recent NAIOP survey believe the pandemic will significantly affect their business operations for at least another 12 months.

Finance & Capital Markets
G.S. Wilcox touts $43 million in loans for North Jersey industrial buildings

The owners of three northern New Jersey warehouses have secured a combined $42.5 million in financing, in a series of newly announced transactions by G.S. Wilcox & Co.