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.

Professional Services
Newmark promotes two to executive vice president

Newmark Associates has announced two key promotions as part of an expansion of its business development team and ongoing growth in lease and sales transactions.

Photos
IOREBA announces new officers

The Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area has installed its newest slate of board officers.

Industrial
Joint venture acquires Piscataway site, plans 298,000 sq. ft. industrial project

Transwestern Development Co. has unveiled plans to renovate a warehouse in Piscataway and construct a second building alongside it, bringing nearly 300,000 square feet of new industrial space to the submarket.

Finance & Capital Markets
Procida inks $40 million loan for 242-unit rental project in Carteret

The developer of a 242-unit apartment community in Carteret has secured nearly $40 million in financing, under a newly announced transaction by Procida Funding.

Residential & Mixed Use
Leasing underway at new 14-story apartment tower in Jersey City

A developer is welcoming its first residents to a collection of 148 luxury apartments in downtown Jersey City.

Office
Chilmark: Madison office building fetches $1.65 million

A private buyer has acquired a newly built, 4,100-square-foot office building in Madison, in a transaction arranged by Chilmark Real Estate Services.

Residential & Mixed Use
Montclair rental building 50 percent leased

A new boutique apartment building in Montclair is 50 percent leased, reaching the milestone a month after opening its doors to residents.

Finance & Capital Markets
Kennedy Funding lends $2 million to Texas property owner

Kennedy Funding has closed on nearly $2 million in financing for the owner of two land tracts in Fort Worth, Texas, paving the way for a separate transaction in the city.

Office
Hartz, AXA combine to lease 95,000 sq. ft. at Secaucus office building

Hartz Mountain Industries has signed a new 54,000-square-foot office lease in its longtime home of Secaucus, in one of two newly announced transactions by JLL.

Residential & Mixed Use
NJBA honors top communities, professionals at annual SAM awards

Some of the state’s newest residential communities shared the spotlight last week, headlining dozens of honorees at an annual banquet hosted by the New Jersey Builders Association.