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
Builders, contractors association names new president for New Jersey chapter

The Associated Builders and Contractors’ New Jersey chapter has tapped a veteran business owner and public official in South Jersey as its newest leader.

Finance & Capital Markets
Kennedy Funding closes $1 million loan for Long Island waterfront property

Kennedy Funding, an Englewood Cliffs-based direct private lender, has closed a $1 million loan for a nearly four-acre waterfront property in New York’s Nassau County.

Retail
Landlords brace for fallout, search for solutions with retailers battered by COVID-19 shutdown

New Jersey shopping centers that once buzzed with a steady hum of activity have been quiet since late March, with most retail businesses shut down to contain the spread of COVID-19. Retail landlords are now scrambling to figure out how to deal with tenants who say they can’t pay rent because their revenue streams have stopped cold — even though property owners still have their own financial obligations.

Finance & Capital Markets
Northmarq inks $16.5 million refi for Bergen County retail center

The owner of a grocery-anchored shopping center in Bergen County has refinanced the property for $16.5 million, under a newly announced transaction by Northmarq.

Residential & Mixed Use
Newly delivered Jersey City rental building launches leasing (SLIDESHOW)

The owner of a new luxury apartment building in Jersey City has launched leasing at the 99-unit property.

Retail
Bridgewater Commons mall owner taps Texas developer to oversee leasing, management

An investment group that owns the sprawling Bridgewater Commons mall has hired a Texas-based developer to lease and manage the nearly 1.3 million-square-foot property.

Residential & Mixed Use
Developers of new Hoboken rental building launch COVID donation program

The development team behind a new 424-unit apartment building in Hoboken is taking steps to support those on the front lines of the coronavirus pandemic.

Industrial
Sitex adds 172,000 sq. ft. Meadowlands warehouse, two other sites

Sitex Group has acquired a 172,000-square-foot warehouse in Lyndhurst, in the largest of three newly announced additions by the real estate investment firm.

Guest Columns
The economic value of the multifamily industry

In the weeks since the start of this crisis, the primary focus was on the health impacts of COVID-19, and rightfully so. And while the economic impact never left our minds, recent data has now put the financial health of our country and our state on the front burner.

Government & Public Policy
Murphy extends DEP deadlines for permit reviews, actions during COVID-19 crisis

Gov. Phil Murphy on Saturday extended a host of deadlines required under the state’s environmental laws, including those related to certain permit decisions for development projects.