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
Pharma firms, delivery startup among latest targets in EDA tax credit review

The state Economic Development Authority is seeking information from another three companies that were awarded tax credits under its embattled incentive programs, amid ongoing scrutiny of the volume of awards and job pledged by the recipients.

Industrial
Team Resources inks 79,000 sq. ft. renewal by furniture rental business in Secaucus

A furniture rental business has renewed its 79,000-square-foot lease at a Secaucus industrial building, in one of three newly announced transactions by Team Resources Inc.

Finance & Capital Markets
Prism announces refi at Parsippany office building

Prism Capital Partners has refinanced a 206,000-square-foot office building in Parsippany, touting the transaction as another milestone for the firm’s original investment property.

Government & Public Policy
NAIOP panelists tout lessons learned amid updates to environmental cleanup program

Technical changes to the 10-year-old Site Remediation Reform Act incorporate many lessons learned since the law was originally enacted, industry insiders said last week, as a bill that would update the program now awaits a decision by Gov. Phil Murphy.

Finance & Capital Markets
Developers of 421-unit Bogota project land $60 million construction loan

A development team is moving forward with a new 421-unit luxury apartment project in Bogota with the help of a newly announced, $60 million loan arranged by Cushman & Wakefield.

Retail
H Mart food market, eatery coming to American Dream

Asian-American grocery chain H Mart is coming to the American Dream, the latest high-profile addition to the retail and culinary offerings at the sprawling Meadowlands project.

Industrial
CBRE inks sale of 188,000 sq. ft. light industrial portfolio near I-295

A regional owner and operator has sold a two-building, 187,569-square-foot industrial portfolio in Moorestown, under a transaction arranged by brokers with CBRE.

Office
Sanzari names general manager for 50-acre Glenpointe campus in Teaneck

Alfred Sanzari Enterprises has named a new general manager for Glenpointe, its flagship office and hotel campus in Teaneck.

Professional Services
Somerset taps boutique firm to oversee retail marketing at Bell Works

Somerset Development has hired a real estate marketing firm to help lure new visitors to the growing slate of retailers, restaurants and services at its landmark Bell Works project.

People
Newmark expands sales team with two recent hires

Newmark Associates has bolstered its sales team with two former residential brokers, the latest new hires for the Cedar Knolls-based firm.