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
Murphy signs ‘land bank’ bill allowing cities to assemble, reposition blighted property

A newly enacted law allows New Jersey municipalities to assemble blighted properties within their borders, creating land banks that they can use to spur much-needed redevelopment.

Health Care & Education
Cherry Hill medical office building fetches $4 million

An investor has acquired a medical office property in Cherry Hill, under a $4 million transaction arranged by Marcus & Millichap.

Retail
Paramount touts new Taco Bell ground lease, opening in Morris County

A new 1,850-square-foot Taco Bell has opened its doors in Wharton after a recently completed ground lease with Paramount Assets.

Photos
Hollister, Bohler raise $55,000 for child advocacy center

Hollister Construction Services and Bohler Engineering hosted their 4th annual Charity Cornhole Tournament in early May, raising $55,000 for Wynona’s House Child Advocacy Center in Newark and Daytop New Jersey.

Office
Fidelco acquires 18-story office tower in downtown Newark

A prominent Newark landlord has expanded its holdings in the city, acquiring a well-known office tower at the northern end of the downtown.

Residential & Mixed Use
Diversified launches construction for East Rutherford rental building

A developer has broken ground on a 35-unit apartment building in East Rutherford, offering a location near Route 17 and midway between two Bergen County train stations.

Finance & Capital Markets
Developers of high-end Montclair hotel ink $37.5 million bridge loan

The developers of a new 159-key Marriott hotel in downtown Montclair has secured a $37.5 million bridge loan, under a transaction arranged by PMZ Realty Capital LLC.

Professional Services
Savills hires corporate dispositions expert to lead new practice

Tenant advisory firm Savills has added a new service line focused on helping clients deal with surplus real estate, hiring a longtime industry executive to oversee the practice.

Professional Services
Red Bank branding, marketing firm with CRE practice announces merger

A design and marketing firm with a growing real estate practice has expanded its capabilities with a newly completed merger.

Office
NAI Hanson: Medical practice, travel agency lease space in Secaucus

Two tenants have combined to lease more than 4,000 square feet at a Secaucus office building, brokers with NAI James E. Hanson announced Tuesday.