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.

Health Care
JLL: Sunrise Senior Living sells four-year-old, 88-unit facility in Franklin Lakes

Sunrise Senior Living has sold an 88-unit assisted living and memory care facility in Franklin Lakes after debuting the property in 2021, brokers with JLL announced Tuesday.

Professional Services
Hudson Atlantic’s Favorito named vice president of multifamily sales

Hudson Atlantic has added to its leadership ranks after promoting broker Nick Favorito to vice president of multifamily sales.

People
Saxum promotes Caputo, construction industry veteran, to project executive

Saxum Real Estate has promoted Frank Caputo to project executive within the Summit-based firm’s development and construction team.

Industrial
Seagis leases 33,000 sq. ft. in newest deals at Carteret industrial building, BRC says

Seagis Property Group has secured a lease renewal and two new tenant commitments at a Carteret industrial building, in a set of deals arranged by Bussel Realty Corp.

Professional Services
DRG Architects acquires Vitetta, expanding footprint in Pennsylvania

DRG Architects is expanding westward with the acquisition of Vitetta, a practice with deep ties to Central Pennsylvania.

Residential & Mixed Use
Urban Edge to sell Bergen Town Center parcel slated for 456 apartments for $25 million

Urban Edge Properties is selling a piece of Bergen Town Center — its sprawling retail property in Paramus and Maywood — one that’s slated for redevelopment as more than 450 apartments.

Finance & Capital Markets
Namdar Group lands $32 million loan for multiple Journal Square projects, HKS says

A new project by Namdar Group would bring 1,151 apartments, 5,000 square feet of retail space and 26,000 square feet of office space to a 47-story tower on Lott Street in Jersey City. — Rendering courtesy: HKS Real Estate Advisors

Industrial
Blau & Berg: US Logistics Group expands by 48,000 sq. ft. at Elizabeth industrial property

A global freight forwarder is now a full-building tenant at an Elizabeth industrial property, having added more than 48,000 square feet under a deal arranged by The Blau & Berg Co.

Professional Services
Kislak recognizes top deals, performances of 2024 at annual sales awards

The Kislak Co. Inc. is celebrating four of its brokers for their achievements in 2024, touting their roles in the firm’s $500 million in overall sale and lease transactions for the year.

Retail
TFE acquires 7,000 sq. ft. former bank building in East Windsor

TFE Properties has expanded its holdings in its hometown of East Windsor, acquiring a 7,000-square-foot former bank building on a key corridor in the township.