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

Alterra expands footprint with two industrial outdoor storage deals in Gloucester County

Alterra IOS has acquired two industrial outdoor storage properties in Gloucester County, adding roughly seven acres to its growing portfolio in the asset class.

People

Saxum’s Lizza earns promotion to development director

Saxum Real Estate has promoted David Lizza to development director, touting his role in some of the firm’s largest industrial projects in key markets.

Finance & Capital Markets

G.S. Wilcox closes $25 million loan for 296-unit Charlotte rental property

G.S. Wilcox & Co. has arranged nearly $25.3 million in financing for a 296-unit multifamily property in North Carolina, the Morristown-based mortgage banker announced recently.

Office

Real estate, law firms among newest tenants at revamped West Orange office building

The owner of a repositioned office building in West Orange has secured seven new tenants with nearly 74,000 square feet of leasing activity, brokers with JLL announced.

IPRG: Buyer wanted for iconic Bendix Diner property on Route 17 in Hasbrouck Heights

The owner of a landmark diner in Hasbrouck Heights has tapped IPRG to sell the Route 17 property, providing an opportunity for a new operator or potential redevelopment of the site.

Retail

Doren Development lands key approval to build 7 Brew Coffee shop in Winslow Township

A new 7 Brew Coffee shop is on track to replace a former bank branch in Winslow Township as part of a newly announced project by Doren Development.

Industrial

DeSapio buys 12,000 sq. ft. flex building in Fairfield for $3 million, Deluccia says

A real estate firm has acquired a 12,000-square-foot flex industrial building in Fairfield for $3 million, in a newly announced deal by Deluccia Commercial Group.

JLL: Long Island office building is ‘ripe for redevelopment’ as industrial, multifamily

JLL’s Morristown-based investment sales team is marketing another potential redevelopment site at an aging office property, this time in the Long Island community of Melville.

Editor’s Note

Taking notice

As you’ll read in this month’s cover story, developers are laying the groundwork for what could be a new wave of apartment construction in downtown New Brunswick, seeking to meet the needs of workers that will come from the transformative, large-scale commercial projects that are taking shape. City officials say they’ve approved plans for residential projects with more than 2,000 units since the start of 2022, with hundreds more in the pipeline, setting the stage for a major infusion of new housing.

Office

Onyx: Fintech insurance firm Acrisure takes 43,000 sq. ft. at The Arbors in Parsippany

Onyx Equities has leased more than 43,000 square feet in Parsippany to Acrisure, a major fintech insurance firm, inking its latest deal at a revitalized five-building office campus.