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.

People
Saxum promotes Shah, key player in cold storage platform, to vice president of acquisitions

Saxum Real Estate has promoted Sunny Shah to vice president of acquisitions, touting his role in the Summit-based firm’s growing cold storage division.

Office
Wealth management firm leases 7,000 sq. ft. in Metropark, CBRE says

A financial advisory firm has taken 7,000 square feet of office space in Woodbridge’s Metropark district, in a newly announced deal by CBRE.

Industrial
NAI Hanson’s Perkins, Todd win SIOR award for $156 million industrial outdoor storage deal

Two top brokers at NAI James E. Hanson have earned national honors for their role in the more than $156 million sale of a large industrial outdoor storage portfolio in Hudson County.

Industrial
Bain Capital, OSC close $208 million deal for 784,000 sq. ft. North Jersey industrial portfolio

Bain Capital and Oliver Street Capital have acquired an 11-building, 784,000-square-foot industrial portfolio in northern New Jersey for $208 million, the firms announced Thursday.

Industrial
Crow Holdings inks 156,000 sq. ft. industrial lease in Burlington with GMB North America

Crow Holdings Development has filled more than half of a new industrial building in Burlington, leasing 156,000 square feet to a subsidiary of global auto parts manufacturer GMB.

Industrial
Greek enters Florida, buying 100,000 sq. ft. industrial building near Tampa for $23 million

Greek Real Estate Partners has expanded to Florida with its acquisition of a 100,000-square-foot industrial building outside Tampa, the company announced Thursday.

Retail
Galloway shopping center fills 2,700 sq. ft. with two new leases, Vantage Commercial says

Two new tenants are coming to an Atlantic County retail center after a pair of leases totaling more than 2,700 square feet, brokers with Vantage Commercial announced Thursday.

Government & Public Policy
Plan to replace Newark Bay Bridge moves ahead after environmental review by Coast Guard

The U.S. Coast Guard has signed off on the first piece of a plan to rebuild the Newark Bay-Hudson County Extension, supporting the findings of an environmental review by the New Jersey Turnpike Authority and issuing a key permit to help the $6 billion project proceed.

Government & Public Policy
Coming together: Real estate, environmental leaders see continued partnership as New Jersey’s landmark community solar program expands

State regulators have renewed their support for a landmark program that has created not only new revenue streams for warehouse owners and solar developers, but a source of common ground for the business and environmental communities.

Health Care
BGO, Anchor Health buy 41,000 sq. ft. Montclair medical office building for $17.9 million

A joint venture has acquired a nearly 41,000-square-foot medical office building and an adjacent parking garage in downtown Montclair for $17.9 million, in a deal arranged by CBRE.