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.

Industrial
Dermody acquires, plans upgrades at vacant 615,000 sq. ft. industrial building in East Windsor

Dermody Properties has acquired a vacant 615,000-square-foot industrial complex in East Windsor, where it’s now planning a series of upgrades over the next several months.

Finance & Capital Markets
Owner of 516-unit portfolio in Little Ferry refis for $44 million

The owner of three multifamily properties in Little Ferry has refinanced the portfolio for more than $44 million, capital markets firm Northmarq announced Thursday.

Office
NAI Hanson: Hampshire inks sale of 8,000 sq. ft. office building near Morristown

The Hampshire Cos. has sold a roughly 8,000-square-foot office building in Harding Township, under a newly announced transaction by NAI James E. Hanson.

Professional Services
IBS adds sales rep for software platforms in real estate, manufacturing

Integrated Business Systems has added to its team with the hiring of a new a consultant for the firm’s software for the commercial real estate and manufacturing sectors.

Professional Services
Commercial real estate clients have helped fuel growth of Red Bank branding, marketing firm

Splendor Design Group will celebrate its 20th anniversary in business in August — and it has grown in recent years thanks in large part to the commercial real estate sector. Five years ago, Taylor said, real estate companies accounted for 20 percent of its total clientele. Today, 60 percent of its customer roster comes from commercial real estate — with clients including SJP Properties, Onyx Equities, Langan and J&L Cos. Those clients have turned to Splendor Design for a major injection of energy into their branding and marketing efforts.

Government & Public Policy
Financial services firm eyes 215,000 sq. ft. lease, with help of expiring tax credit program

A financial services firm has proposed leasing more than 215,000 square feet in Morris County with the help of a 10-year, $22.2 million tax credit under the state’s expiring incentive programs, as lawmakers gathered this week to consider an extension of the subsidies.

Office
Mack-Cali withdraws four board nominations, ceding victory to Bow Street

Four directors at Mack-Cali Realty Corp. opted Wednesday to not stand for re-election, clearing the way for a dissident investor group to take control of four seats on the company’s board.

Residential & Mixed Use
Kislak inks sale of 106 units in Cranford, Roselle

An investor has acquired a 46-unit apartment complex in Cranford for $11.3 million, in the largest of three newly announced transactions by The Kislak Co. Inc.

Industrial
Linden industrial building fetches $5.8 million, BRC says

The longtime owner of a nearly 75,000-square-foot industrial building in Linden has sold the property for $5.8 million, brokers with Bussel Realty Corp. said Wednesday.

Residential & Mixed Use
Ironstate, KRE reveal new 549-unit rental tower in Jersey City (SLIDESHOW)

Ironstate Development Co. and Kushner Real Estate Group have taken the wraps off a new 46-story luxury rental tower in downtown Jersey City.