Retail

The New Jersey retail landscape has changed, but the spending power of its residents hasn’t. Owners of malls, shopping centers and mixed-use projects will continue to adapt and invest in the state.

Finance & Capital Markets
Spencer Savings Bank adds RIPCO’s Fasano to board of directors

Spencer Savings Bank has appointed longtime commercial real estate industry executive Michael Fasano to its board of directors.

Deals
KenKap: Route 46 office, restaurant properties in Parsippany trade for $4.2 million

A local investor has purchased the site of an office building and an adjacent restaurant property in Parsippany for $4.2 million, in a transaction arranged by KenKap Realty Corp.

Retail
Urban Edge, Ashley Furniture sign 24,000 sq. ft. lease at Union Twp. retail center

Urban Edge Properties has filled a vacant big-box retail space in Union Township, where it has leased more than 24,000 square feet to Ashley Furniture.

Retail
Jiu-jitsu school takes 3,000 sq. ft. in Teaneck, Cervelli says

A new martial arts school is coming to Teaneck after signing a 3,000-square-foot lease in the Bergen County township, according to brokers with Cervelli Real Estate.

Retail
Jeffrey Realty to lead North Jersey site selection for growing med spa concept

A franchisee group for VIO Med Spa has tapped Jeffery Realty as its real estate broker for northern New Jersey, as it prepares to open the chain’s first location in the Garden State.

Residential & Mixed Use
Jersey City building with 18 apartments, commercial spaces trades for $4.3 million

A private investor has sold an 18-unit apartment building in Jersey City for nearly $4.3 million, brokers with Marcus & Millichap announced last week.

Top News
The best of The Briefing 2022

We’re always excited to look ahead to a new year in New Jersey commercial real estate. First, however, please join us in looking back at our top stories of the year, including our most-read items and a few editor’s picks. Happy New Year and best of luck!

Top News
NAIDB: New Jersey CRE market shows strength across property types, despite headwinds

Commercial real estate in New Jersey continues to draw investors and tenants at a robust pace, despite economic uncertainty, with even less-heralded asset classes such as office and retail showing signs of health in recent months.

Retail
Marcus inks sale of 9,400 sq. ft. Millburn retail asset for $3.2 million

A private investor has purchased a nearly 10,000-square-foot retail center in downtown Millburn for $3.2 million, brokers with Marcus & Millichap announced Wednesday.

Government & Public Policy
Recreational cannabis sales in New Jersey jump 46 percent, top $116 million in Q3

Sales of recreational cannabis in New Jersey rose to more than $100 million in the third quarter, showing the potential of a market that launched less than eight months ago.