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.

Top News
CBRE inks $123 million sale of Hackensack office campus, touts year-end flurry

A joint venture has sold a well-known office complex in Hackensack for $123 million, in the largest of four year-end investment sales in New Jersey by CBRE’s institutional properties team.

Government & Public Policy
Normandy closes on Jersey City, Hackensack projects under Opportunity Zone fund

Normandy Real Estate Partners has closed on two transactions under the federal Opportunity Zone program, as it touts a milestone in its effort to raise $250 million for such investments.

Industrial
Duke names new senior VP for Northeast operations

Duke Realty Corp. has named a new executive in the region, tapping one of its longest-tenured employees to help lead its efforts in New Jersey and Pennsylvania.

Residential & Mixed Use
Gebroe-Hammer touts $1.9 billion in 2019 sales, hailing ‘record-shattering’ year

Gebroe-Hammer Associates completed nearly $2 billion in multifamily sales in 2019, citing unrelenting demand from investors and continued momentum at the start of 2020.

Finance & Capital Markets
Progress sources $85 million loan for Bronx historic rehab project

The owners of a refurbished historic warehouse building in the Bronx have refinanced the property for $85 million, under a newly announced transaction by Progress Capital.

Industrial
Denholtz signs 9,000 sq. ft. lease at East Brunswick flex complex

Denholtz Properties has signed a new 9,000-square-foot lease at a flex industrial complex in East Brunswick, bringing another tenant to the two-building, 84,000-square-foot property.

Industrial
AY: Prologis, visual communications firm renew 107,000 sq. ft. lease in Carlstadt

Prologis Inc. and a visual communications firm have renewed and extended a nearly 107,000-square-foot lease in Carlstadt, under a newly announced transaction by Avison Young.

People
CSG adds veteran municipal attorney, former Atlantic City business administrator

Jason Holt — Courtesy: Chiesa Shahinian & Giantomasi PC By Joshua Burd Chiesa Shahinian & Giantomasi PC has bolstered its team of real estate and property tax attorneys with the addition of a longtime municipal official in the state. Jason…

Retail
Bed Bath & Beyond completes $250 million sale-leaseback that includes stores, industrial space

Bed Bath & Beyond Inc. has completed a $250 million sale-leaseback agreement spanning more than 2 million square feet of commercial space, in a step aimed at stabilizing the finances of the Union-based retailer.

Professional Services
Murphy Partners announces new partners, changes name in key expansion

Murphy Partners LLP, a Newark-based law firm specializing in commercial real estate, has added two veteran attorneys to form a new practice known as Murphy Schiller & Wilkes LLP.