Top News

Professional Services
JRM serving as general contractor for Ferrari North America renovations in Englewood Cliffs

Ferrari North America has tapped JRM Construction Management as its general contractor for an overhaul of its longtime facility in Englewood Cliffs.

Events
Multifamily construction starts tick downward, but panelists express long-term optimism

Rising interest rates are weighing on New Jersey’s multifamily pipeline, at least in the near term, but have seemingly not dampened the longer outlook for new construction.

Retail
Med spa concept taps R.J. Brunelli as broker for central, southern New Jersey region

Franchise brand VIO Med Spa has picked R.J. Brunelli & Co. LLC as its exclusive real estate broker for new locations in central and southern New Jersey and the Philadelphia area.

Top News
Longtime broker Sheldon Gross, New Jersey commercial real estate mainstay, dies at 94

Sheldon Gross Realty is mourning the loss of Sheldon A. Gross, a longtime New Jersey commercial real estate broker and founder of the West Orange-based real estate services firm.

Residential & Mixed Use
Diversified starts construction for crowdfunded luxury rental project in Morris County

Diversified Properties has broken ground on a planned 60-unit luxury apartment building in Wharton, in a project that is being funded with the help of crowdsourced investors.

Office
CBRE: Harborside 5 and 6 listed for sale as Veris continues to prune Jersey City campus

Veris Residential Inc. is seeking a buyer for two additional pieces of its Harborside campus in Jersey City, following news that it was under contract to sell its three flagship office buildings at the property for $420 million.

Residential & Mixed Use
Walters marks Sandy anniversary, kicks off 67-unit redevelopment on Brick barrier island

Walters has broken ground on a project that will bring 67 new homes to Brick Township, helping revitalize a stretch of the town’s barrier island section that was ravaged by Hurricane Sandy.

Residential & Mixed Use
Multifamily owners, experts debate path forward as interest rate hikes loom (SLIDESHOW)

Interest rate concerns have permeated the commercial real estate landscape in New Jersey and beyond — including the stalwart multifamily sector, which has enjoyed years of rent growth, low vacancy and strong absorption driven by wholesale demographic shifts. Investors and developers are now wrestling with how to forge ahead with deals and projects despite the uncertainty, as they wait to learn how many more rate hikes are still to come.

Residential & Mixed Use
Veris Residential rejects Kushner’s $4.3 billion takeover bid

Veris Residential Inc. has officially rejected Kushner Cos.’ $4.3 billion takeover bid for the Jersey City-based real estate investment trust, the company announced Thursday.

Health Care & Education
New Brunswick cancer hospital tops out, as leaders tout social impact of $750 million project

The future home of the state’s first freestanding cancer hospital is taking shape in downtown New Brunswick, where a crowd of business and political leaders gathered Wednesday to tout the progress of the city’s largest and most impactful development project to date.