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.

Residential & Mixed Use
Investment firm buys 168-unit rental complex in Newton

An investment and property management firm has acquired a 168-unit apartment property in Sussex County for $18 million, with plans to add value through a series of renovations.

Finance & Capital Markets
TriState Capital adds VP, relationship manager

TriState Capital Holdings Inc. has hired a new vice president in New Jersey, with a focus on supporting the bank’s existing client base and growing its business in the region.

Government & Public Policy
EDA aims to lure grocery co-op from Staten Island, keep food service firm in Paterson

The state is hoping to coax a supermarket co-op to move its offices from Staten Island to Old Bridge as part of a recently approved tax credit incentive, as it moves to keep another food-related company from moving jobs out of New Jersey.

Finance & Capital Markets
Buyer of Woodbridge retail center lands $25.5 million acquisition loan, HFF says

Woodbridge Crossing,451-479 Green St.,Woodbridge,HFF,PAG Investments,Citizens Bank,Onyx Equities LLC

Professional Services
Turner announces four promotions in New Jersey

Turner Construction Co. has made four promotions to its management team in its Somerset office.

Retail
Barneys New York coming to American Dream, its only New Jersey location

Barneys New York has agreed to lease about 50,000 square feet at the American Dream complex, the latest high-end retailer to sign on to the massive shopping and entertainment complex in East Rutherford.

Residential & Mixed Use
Developer breaks ground on latest affordable rental project in Ocean County

Walters has started site work for a new 60-unit, income-restricted apartment and townhome community in Ocean County, the developer announced Wednesday.

Residential & Mixed Use
Developer touts 70 percent leased milestone at new Cherry Hill apartments

A developer has leased nearly three-quarters of its recently completed, 152-unit luxury rental community in Cherry Hill.

Government & Public Policy
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building

A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.

Professional Services
Garibaldi adds first-ever managing broker as part of historic rebrand

The Garibaldi Group has hired a veteran broker and consultant who will play a key role in the firm’s efforts to revamp and expand its real estate services platform.