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.

Finance & Capital Markets
Developers land construction loan for 220-unit Englewood rental project

A joint venture is eyeing a 2020 delivery for new luxury apartments in Englewood, brokers with JLL said, having secured construction financing for the 220-unit project.

Industrial
RHS Group adds 160,000 sq. ft. industrial asset in Linden

An investment firm has acquired a 160,000-square-foot light industrial building in Linden, with plans to upgrade the property in line with its value-add strategy.

Office
IT services, construction firms ink leases at Somerset office building, C&W says

Two tenants have combined to lease nearly 5,000 square feet at a two-building, 208,000-square-foot office building in Franklin Township, according to Cushman & Wakefield.

Industrial
Sign company takes 20,000 sq. ft. in South Plainfield

A provider of sign products and services has leased 20,000 square feet of industrial space in South Plainfield, Team Resources Inc. announced Friday.

Office
WCRE: Engineering firm inks 16,000 sq. ft. renewal in Haddon Heights

A consulting engineering firm has renewed its lease at a Camden County office building, under a newly announced transaction by Wolf Commercial Real Estate.

Finance & Capital Markets
Progress inks $16 million acquisition loan for student housing portfolio

Progress Capital has arranged $16 million in financing for a client to acquire a 219-bed, multisite student housing portfolio near Pennsylvania’s Lehigh University.

Hospitality & Tourism
Joint venture, Marriott open 159-room high-end Montclair hotel (UPDATED)

A development group has completed Montclair’s first ground-up, full-service hotel in more than 80 years, debuting a new 159-room Marriott property in the community’s popular downtown.

Hospitality & Tourism
Hollister tapped to oversee construction at new Morristown hotel

The developer of a planned boutique hotel in downtown Morristown has retained Hollister Construction Services as its construction manager.

Office
NAI Hanson inks 8,000 sq. ft. medical office sale in New Providence

An optometry practice has acquired an 8,064-square-foot medical office building in New Providence, in a newly announced transaction by NAI James E. Hanson.

Government & Public Policy
EDA streamlines, expands eligibility for municipal grant program for stranded assets

The state Economic Development Authority is expanding a program aimed at helping municipalities tackle vacant or underused commercial and retail properties in their towns.