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.

Professional Services
Garcia among newest additions to Connell Foley executive committee

Real estate and land use attorney George Garcia has joined Connell Foley LLP’s executive committee, in one of several new leadership moves announced by the firm.

Retail
Credit union inks sale-leaseback for Pleasantville bank building, Vantage Commercial says

A credit union has sold and leased back a 6,500-square-foot bank building in Pleasantville as part of a recent transaction arranged by Vantage Commercial.

Industrial
KABR sells 190,000 sq. ft. Long Island industrial building for $15.3 million, JLL says

KABR Group has sold a nearly 190,000-square-foot industrial building on Long Island for $15.25 million, in a deal arranged by JLL’s Morristown-based capital markets team.

Deals
WCRE: Investor buys 3,200 sq. ft. office, residential building in Maple Shade

An investor has purchased a 3,200-square-foot mixed-use building in Maple Shade Township, according to a brokerage team with Wolf Commercial Real Estate.

Industrial
Realterm buys 632,000 sq. ft. industrial outdoor storage portfolio in North Jersey, other key markets in reported $277 million deal

Global investment manager Realterm has acquired a sprawling, multistate portfolio of industrial outdoor storage properties that includes assets in northern New Jersey.

Residential & Mixed Use
Shorewood, city officials debut 280-unit rental building at Newark’s Ballantine Brewery site

Shorewood Real Estate Group has unveiled a collection of 280 apartments in Newark’s Ironbound section, bringing a new use to the once-iconic Ballantine Brewery site and setting the stage for additional projects in the historically industrial neighborhood.

Finance & Capital Markets
Deutsche Bank provides $68 million refi for Crystal Springs Resort in Hamburg

The owners of Crystal Springs Resort in Sussex County have secured a $68 million loan to refinance the sprawling hospitality destination, in a deal arranged by Newmark.

Industrial
NAI Hanson: Home remodeler buys Oradell retail, warehouse building for $875,000

The owner of a home remodeling business has acquired a 3,125-square-foot mixed-use building in Oradell for $827,500, brokers with NAI James E. Hanson announced Wednesday.

Government & Public Policy
Towns challenging new affordable housing law detail latest strategy, eyeing Jan. 23 hearing

The coalition of towns seeking to block New Jersey’s new affordable housing law will soon have another day in court, having raised fresh concerns about the process that state officials will use to resolve zoning disputes and about a set of newly released regulations.

Office
Renovated 98,000 sq. ft. office building in Parsippany on the market for sale, JLL says

The owner of a nearly 100,000-square-foot office building in Parsippany is seeking a buyer for the property, where brokers are touting strong leasing momentum after a recent update.