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.

Industrial
NAI Mertz: Tenants lease 30,000 sq. ft. to bring Cherry Hill industrial park to full occupancy

Velocity Venture Partners has leased up a Cherry Hill industrial campus after four new deals totaling roughly 30,000 square feet, brokers with NAI Mertz announced this week.

Retail
LMC: E-tailer Williamspace Furniture takes 4,400 sq. ft. in Hamilton for first physical store

Ecommerce brand Williamspace Furniture is opening its first brick-and-mortar location with a new lease at a Hamilton shopping center, in a deal secured by Levin Management Corp.

Finance & Capital Markets
Lightstone, Friber Group close on $24 million loan for 91-unit East Orange rental project

Lightstone Capital has provided a $24 million loan to the developer of a newly built, 91-unit apartment building in East Orange.

Events
JLL’s Kossar to headline United Way Legacy Event, with six projects vying for Impact Awards

United Way of Northern New Jersey will honor JLL’s Rob Kossar next month at an annual fundraiser that draws hundreds of commercial real estate industry leaders, where the organization will also celebrate top projects in multiple asset classes.

Industrial
Prologis buys 1.1 million sq. ft. industrial portfolio at Exit 8A in reported $197 million deal

Prologis Inc. has added more than 1 million square feet in the region with its acquisition of two industrial properties in Monroe Township, in a deal arranged by Cushman & Wakefield.

Finance & Capital Markets
NRDC snags $31 million loan for 358,000 sq. ft. Burlington retail center, Cronheim says

The owner of a 358,000-square-foot, Walmart-anchored shopping center in Burlington has closed on $31 million in financing for the property, in a deal arranged by Cronheim Mortgage.

Industrial
Castelbuono joins PREMIER East Coast team as vice president of field operations

PREMIER Design + Build Group has hired Fred Castelbuono as vice president of field operations, making another key addition to its growing East Coast team.

Industrial
Zimmel named leasing agent for new 129,000 sq. ft. warehouse project in Tinton Falls

The developer of more than 129,000 square feet of new industrial space in Tinton Falls has tapped Zimmel Associates as its leasing team for the property.

Office
Azarian Building in Midland Park now full after IT services firm takes 2,100 sq. ft.

An IT services firm has opened a new office location in Midland Park after leasing more than 2,100 square feet under a deal arranged by Azarian Realty Co.

Top News
Exchange Place Alliance seeking broader impact in Jersey City with newly expanded special improvement district

The special improvement district that has helped beautify, activate and maintain a large stretch of the Hudson waterfront in Jersey City in recent years has just gotten bigger — and a host of downtown property owners are now poised to reap the benefits.