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.

Technology
Real estate firms will see substantial increases in efficiency by embracing accounting automation

The way companies work changed fast because of the COVID-19 pandemic, sending them scrambling to learn how to manage a distributed workforce and quickly transition to more automated processes. But, aside from enabling a distributed workforce, automation has much broader advantages for businesses.

Industrial
UPS coming to 880,000 sq. ft. logistics center in Bayonne, city officials say

A new UPS distribution center is coming to Lincoln Equities Group’s sprawling new industrial park in Bayonne, where officials say the carrier would lease nearly 900,000 square feet.

Government & Public Policy
EDA: Revival of historic Paterson stadium set to begin after approval of ERG award

A development team is moving ahead with plans to revive the historic Hinchliffe Stadium site in Paterson, following approval of a $67 million state tax credit for the project.

Finance & Capital Markets
Cronheim touts $11.1 million loan for rental portfolio in Woodbridge, Englewood

The owner of a 178-unit apartment portfolio in Middlesex and Bergen counties has secured more than $11 million in financing, in a transaction arranged by Cronheim Mortgage.

Residential & Mixed Use
LeFrak, Jersey City officials seeking local artists for lobby display at Newport building

LeFrak, the developer of Jersey City’s iconic Newport neighborhood, is seeking the help of local artists to adorn a wall inside its newest waterfront apartment tower.

Office
NAI Hanson: Wealth manager expands, takes 4,500 sq. ft. in Chester

A wealth management firm has leased more than 4,500 square feet of office space in Morris County, in a newly announced transaction by NAI James E. Hanson.

Office
Sanzari, OceanFirst ink 3,400 sq. ft. office lease in Bergen County

Alfred Sanzari Enterprises has leased more than 3,000 square feet of office space in Hasbrouck Heights to OceanFirst Bank, as the lender continues its growth in northern New Jersey.

Office
Oral surgery group leases 4,400 sq. ft. in East Brunswick, Sheldon Gross says

An oral surgery practice has taken space at a single-story office park in East Brunswick, in a newly announced deal by Sheldon Gross Realty.

Finance & Capital Markets
Progress inks $14.5 million loan for Bronx housing redevelopment

The developer of an 11-story apartment building in the Bronx has landed more than $14 million in financing for the project, according to an advisory team with Progress Capital.

Residential & Mixed Use
Jersey City rental building rides early surge in 2021, nears 80 percent leased mark

A development group has leased more than three-quarters of a new 137-unit luxury apartment building in Jersey City, thanks in part to a post-holiday surge in renter demand.