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.

Office

Gateway 2.0: Inside the overhaul of Newark’s landmark office complex

Led by Onyx Equities, the redesign of Newark’s Gateway Center will transform the complex’s streetscape and busy pedestrian concourse, but the project is equally tied to improving the buildings’ long-neglected mechanical infrastructure.

Office

SJP, Oracle ink 17,000 sq. ft. lease at Bridgewater campus

Technology giant Oracle is relocating to SJP Properties’ five-building, 1.2 million-square-foot office campus in Bridgewater, where it’s leasing 17,000 square feet for a local field office.

Professional Services

Team Resources broker promoted to vice president

Team Resources Inc. has promoted one of its brokers to vice president, the Lyndhurst-based commercial real estate agency announced this week.

Retail

Moorestown retail center trades for $5.4 million, Rose Commercial says

An investor has acquired a nearly 25,000-square-foot shopping center in Moorestown, under a $5.4 million transaction arranged by Rose Commercial Real Estate.

Industrial

JLL: With demand unrelenting, ‘banner’ Q4 sets up blockbuster year for N.J. industrial market

E-commerce users led the charge in fourth-quarter industrial leasing in New Jersey, setting up what could be another record-setting year for owners and developers of logistics space.

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.