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.

Top News
DeMarco out after five years at Mack-Cali, as REIT names interim CEO

Michael DeMarco is out as CEO of Mack-Cali Realty Corp., the company announced, following a year-long proxy fight that saw activist investors win control of its board of directors.

Office
New Jersey properties included in $97 million ground lease sale

An investment group has acquired a collection of ground-leases in New Jersey as part of a four-state, $97 million transaction with Brandywine Realty Trust.

Retail
Optical chain opens 3,000 sq. ft. store at Raritan retail center, LMC says

A Somerset County shopping center has reached full occupancy with the debut of a 3,000-square-foot store by a national optical retailer.

Retail
Marcus inks $1.43 million sale of Mount Olive bank property

An investor has acquired a 3,250-square foot retail property in Mount Olive, in a newly completed transaction by Marcus & Millichap.

Finance & Capital Markets
Investor lands long-term financing, repays $8.75 million loan from Procida

A borrower has repaid an $8.75 million loan to Procida Funding after securing long-term financing for an eight-building, mixed-use portfolio in Sleepy Hollow, New York.

Residential & Mixed Use
BNE, local officials break ground on first phase of major redevelopment in South Amboy

BNE Real Estate has broken ground on a 291-unit residential building in South Amboy, the first piece of a sweeping waterfront redevelopment that will yield nearly 2,000 new apartments.

Residential & Mixed Use
KABR, Gebroe-Hammer tout $24 million sale of Jersey City rental building

The KABR Group has sold a newly built, 58-unit apartment property in Jersey City’s McGinley Square neighborhood, in a transaction arranged by Gebroe-Hammer Associates.

Government & Public Policy
Newark approvals include tax abatement for second ‘Shaq Tower’

A proposed 370-unit apartment tower in Newark has secured a 30-year tax abatement, as city officials move to advance a series of planned developments despite the pandemic.

Office
WCRE inks sale of 5,700 sq. ft. Hamilton office building

A nearly 6,000-square-foot office building in Hamilton is under new ownership, following a transaction arranged by Wolf Commercial Real Estate.

Office
Orthopedist signs 2,500 sq. ft. lease in Cherry Hill, Vantage RES says

A medical office building in Cherry Hill has added a new tenant, securing a long-term lease with a Philadelphia-based orthopedic practice.