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.

Government & Public Policy
East Orange project with 420 rentals, commercial space lands $298 million Aspire award

The next phase of a massive redevelopment in East Orange is one step closer to breaking ground with the help of a nearly $298 million tax credit award under the state’s Aspire program.

Industrial
Accordia expands to South Carolina, acquires 305,000 sq. ft. industrial park for $48 million

Accordia has purchased more than 305,000 square feet of industrial space in South Carolina, marking its first acquisition in the state and the largest in its 20-year history.

Retail
RIPCO: Trader Joe’s-anchored retail center in Edgewater hits 97 percent occupancy

Tenants have all but filled a 73,000-square-foot retail center in Edgewater after a flurry of recent leasing activity secured by RIPCO Real Estate.

Industrial
Saxum, Penwood close on site for 166,000 sq. ft. industrial project in Southeast Pennsylvania

Saxum Real Estate and Penwood Real Estate Investment Management LLC are expanding their partnership with a newly announced, 166,000-square-foot industrial project in Pennsylvania.

Retail
Art school, event space takes 1,200 sq. ft. on Route 46 in Morris County, Azarian says

A painting school and event space is coming to Rockaway Borough, where it will occupy more than 1,200 square feet under a deal arranged by Azarian Realty Co.

Industrial
Longpoint buys 101,000 sq. ft. Piscataway industrial portfolio

Longpoint has acquired two industrial buildings in Piscataway, expanding its portfolio by more than 101,000 square feet in a deal arranged by Lee & Associates – WBE New Jersey.

Office
Axria adds 200,000 sq. ft. Somerset office building, eyes redevelopment, in deal by JLL

Axria has purchased a 200,000-square-foot office building in the Somerset section of Franklin, where it’s now crafting a redevelopment plan that taps into the site’s strong location.

Finance & Capital Markets
G.S. Wilcox sources $26 million loan for Blue Star Shopping Center updates

The owner of the Blue Star Shopping Center in Watchung has closed on a $26 million loan for the property’s ongoing redevelopment, in a deal arranged by G.S. Wilcox & Co.

Office
Kislak: Pharma company to open newly acquired 52,000-square-foot office in Basking Ridge

A pharmaceutical company is set to unveil its new headquarters after recently acquiring an office building in Somerset County, according to Kislak Commercial Real Estate Services Inc.

Residential & Mixed Use
Pennrose, public officials debut 76-unit affordable housing property in Moorestown

Pennrose has delivered a new apartment building in Moorestown that will provide 76 units of affordable housing to families and other residents in the area.