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.

Residential & Mixed Use
Upper Montclair properties fetch $3.25 million

A private investor has sold two neighboring mixed-use properties in Montclair for a combined $3.25 million, according to brokers with Marcus & Millichap.

Retail
Gebroe-Hammer: Retail sales in Middlesex, Somerset total nearly $19 million

Two community shopping centers in central New Jersey have traded for a combined $18.6 million, in separate deals brokered by Gebroe-Hammer Associates.

Current Issue
Value drivers: How Onyx became a top player in New Jersey real estate

John Saraceno Jr. (left) and Jonathan Schultz, co-founders and managing principals of Onyx Equities LLC, have helped grow the company into one of the state’s top private value-add investment firms in New Jersey since its founding in 2004. — Photo…

Professional Services
South Jersey brokerage firm WCRE joins CORFAC network

Wolf Commercial Real Estate, a brokerage and advisory firm based in southern New Jersey, has joined the global industry network known as CORFAC International.

Retail
Net-leased bank site in Essex County trades for $5 million

A developer has sold a 4,200-square-foot net-leased bank property in Cedar Grove as part of a $5 million deal brokered by Marcus & Millichap’s northern New Jersey office.

People
Value-add firm hires three, promotes one to support new growth

Accordia Realty Ventures has expanded its asset management team and promoted a longtime employee in order to handle its growing pipeline, the firm announced.

Retail
Advance, Invesco get OK for office-to-retail redevelopment in Paramus

Local officials have cleared the way for Advance Realty and Invesco Real Estate to demolish an aging office building in Paramus, allowing the firms to develop a new 40,000-square-foot retail and dining complex in its place.

Retail
Retail brokers join CBRE as associates

CBRE Group Inc. has bolstered its retail brokerage team with the addition of two new associates.

Retail
Smoothie chain adds three N.J. stores, Goldstein Group says

A growing chain focused on smoothies and acai bowls is adding new locations in Essex and Ocean counties, following three transactions arranged by The Goldstein Group.

Retail
Developers, city officials unveil new supermarket in former Elizabeth food desert (SLIDESHOW)

A new 25,000-square-foot supermarket has opened its doors in what had been a food desert in a dense section of Elizabeth, anchoring a $17 million redevelopment project that relied on a medley of private and public funding sources.