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.

Residential & Mixed Use
PAM Properties, Cervelli lead turnaround of Ocean County apartment complex

An ownership and management team is hailing the turnaround of a 344-unit apartment complex in Ocean County, spurring improved retention and an increase in rental rates as part of an effort that has garnered acclaim from the industry’s top trade association.

Finance & Capital Markets
JLL details equity, debt package for 267-unit Elizabeth project

The firms behind a high-profile redevelopment project in Elizabeth have landed more than $20 million in equity alongside a $55 million construction loan, under a set of transactions by JLL.

Industrial
C&W tapped to sell 41,000 sq. ft. industrial building in South Plainfield

The owner of a 41,000-square-foot industrial building in South Plainfield is seeking a buyer for the property, brokers with Cushman & Wakefield announced, touting its value-add potential in a burgeoning submarket along Interstate 287.

Top News
LMC named management agent at Somerset County shopping center

Levin Management Corp. has added to its leasing and management portfolio in New Jersey, taking over a 67,500-square-foot retail property in the Franklin Park section of Franklin.

Retail
Phillipsburg retail property fetches $4.7 million, Marcus says

A partnership has sold a nearly 20,000-square-foot retail property in Phillipsburg, in a $4.72 million transaction arranged by Marcus & Millichap.

Office
Mack-Cali closes sale of 333,000 sq. ft. Parsippany office building, C&W says

A real estate investment firm has added to its New Jersey portfolio, acquiring a 333,000-square-foot office building in Parsippany from Mack-Cali Realty Corp.

Residential & Mixed Use
Marcus inks sale of Hoboken, Union City apartments

Two Hudson County apartment properties have changed hands for a combined $5.86 million, under a set of newly announced transactions by Marcus & Millichap.

Office
CBRE named leasing agent at 250,000 sq. ft. office building in Woodcliff Lake

The owner of a newly renovated, 250,000-square-foot office building in Woodcliff Lake has appointed CBRE as its leasing agent, the real estate services firm announced Monday.

Office
Hoboken: NKF wins leasing assignment at 120,000 sq. ft. office building

With upgrades underway at a 120,000-square-foot office building in Hoboken, the property’s owner has tapped Newmark Knight Frank as its new leasing agent.

Finance & Capital Markets
Progress inks $130 million mortgage for Manhattan cancer center project

The developers of a new Memorial Sloan Kettering facility in Manhattan have landed $130 million in financing, under a newly announced transaction by Progress Capital.