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
Englewood Cliffs lender inks $1.35 million loan for Florida rental building

Kennedy Funding has closed a $1.35 million loan for the owner of a 12-unit apartment building about an hour north of Miami, the Englewood Cliffs-based lender announced.

Retail
Closeout retailer opens new store in Somerset County

A discount closeout retailer has expanded its footprint in New Jersey with a recently opened, 31,000-square-foot store in Somerset County, brokers with Jeffery Realty announced.

Hospitality & Tourism
Ocean Resort details new ownership, $70 million investment

An existing shareholder is leading the $70 million capital infusion into the Ocean Resort Casino in Atlantic City, paving the way for it to become the property’s new majority owner.

Residential & Mixed Use
Equity Residential expands in Jersey City, acquires 131-unit rental building

Equity Residential has acquired a 131-unit apartment community in Jersey City’s waterfront Paulus Hook neighborhood, brokers with Cushman & Wakefield said Monday.

Office
Paramount adds historic 12-story office tower in downtown Newark

Paramount Assets has added to its Newark holdings with the acquisition of a historic, 100,000-square-foot office tower across from Prudential Financial’s world headquarters.

Industrial
Tulfra inks $10.3 million loan for Rochelle Park self-storage project

Tulfra Real Estate is on track to begin its redevelopment of a former AT&T data center site in Rochelle Park after landing a $10.3 million construction loan for a new self-storage facility.

Finance & Capital Markets
Progress inks $21 million refi loan for Jersey City multifamily owner

The owner of 11 multifamily buildings in Jersey City has obtained a $21 million loan to refinance the portfolio, in a transaction arranged by Progress Capital.

Industrial
Blackstone buys Meadowlands development site for $8 million, CBRE says

The Blackstone Group has acquired a Lyndhurst development site that can accommodate more than 85,000 square feet of new warehouse and distribution space, brokers with CBRE announced.

Retail
Pierson touts lease, opening of new 38,000 sq. ft. fitness club in Woodbridge

A fitness chain has debuted its ninth location in New Jersey and its first in Middlesex County, following a recently announced 38,000-square-foot lease by Pierson Commercial.

Industrial
NAI Hanson inks sale of 7,800 sq. ft. Hackensack property

An electrical contractor has acquired a 7,800-square-foot industrial and flex property in Hackensack, under a transaction arranged by NAI James E. Hanson.