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
Larken Associates adds senior project manager, director of construction accounting

Larken Associates has expanded its in-house construction team with the addition of two veteran industry professionals.

Finance & Capital Markets
Black Bear inks $5.6 million refi for Burlington medical, retail center

The owner of a medical office and retail complex in Burlington County has refinanced for $5.6 million, in one of several newly announced transactions by Black Bear Capital Partners.

Office
AIG to join growing tenant roster at Goldman Sachs tower, inking 230,000 sq. ft. lease

American International Group Inc. will lease a reported 230,000 square feet at the Goldman Sachs tower in Jersey City, marking the latest high-profile addition to the 40-story building.

Health Care & Education
CBRE: Orthopedic, dental practices take 16,000 sq. ft. at Woodbridge complex

The developer of a new retail and medical complex in Woodbridge has filled nearly 16,000 square feet after inking new leases with an orthopedic practice and a dental group.

Retail
LMC touts 165,000 sq. ft. in leases, renewals during COVID emergency

Burlington Stores has leased 47,000 square feet at a Secaucus shopping center, in the largest of several newly announced transactions by Levin Management Corp.

Retail
Church acquires site of former ski, outdoor sports shop in Cherry Hill

A congregation has acquired the longtime home of an outdoor sports business in Cherry Hill, in a newly completed transaction by Wolf Commercial Real Estate.

Retail
Marcus inks $1.6 million sale of net-leased mattress store property

A private seller has reaped $1.6 million from the sale of a retail property on Long Island, in a transaction by Marcus & Millichap’s New Jersey office.

Government & Public Policy
Resident protection bill would have ‘devastating’ impact on property taxes, operations, NJAA says

The state Assembly has passed a bill that would shield residents from eviction and require landlords to create payment plans for past due rent during the pandemic, drawing renewed criticism from the apartment industry.

Residential & Mixed Use
Walters opens fifth building, marks completion of Manahawkin rental complex

Walters has completed construction on the last of five buildings at a 60-unit, income-restricted apartment community in Ocean County.

Retail
Larken, law firm ink 2,700 sq. ft. lease in Raritan Borough

Larken Associates is welcoming a new tenant to a Somerset County shopping center, having signed a 2,700-square-foot lease with a personal injury law firm.