Residential & Mixed Use
Developers break ground on Parsippany project with downtown-style retail, 498 apartments

A joint venture has broken ground on its redevelopment of a former suburban office property in Parsippany, with plans calling for 60,000 square feet of retail and restaurant space, 498 luxury apartments and a pedestrian-friendly design meant to evoke a town center.

Finance & Capital Markets
J.P. Morgan secures $45 million refi of 1.1 million sq. ft. Poconos warehouse, C&W says

An investment group has landed $45 million to refinance a nearly 1.1 million-square-foot industrial building in Pennsylvania’s Poconos region, about 25 miles outside New Jersey, in a deal arranged by Cushman & Wakefield.

Residential & Mixed Use
Partnerships, collaboration in focus as NAIOP gala honors CRE leaders and deals of the year

Commercial real estate leaders turned out Thursday for NAIOP New Jersey’s annual gala, where the chapter honored five key figures and unveiled its coveted Deal of the Year winners.

Office
Pharma firm takes 28,000 sq. ft. in Montville for office, distribution center, CBRE says

A pharmaceutical ingredients firm has leased nearly 28,000 square feet in Montville that will serve as both a new corporate office and distribution facility, brokers with CBRE said.

Industrial
STRO fills Union warehouse, inking 12,000 sq. ft. lease with Rise Against Hunger

The STRO Cos. has leased nearly 12,000 square feet at a Union Township industrial building to a nonprofit focused on addressing global hunger.

Industrial
Ridgecut, Marcus Partners acquire low-coverage industrial service property in South Plainfield

A partnership has acquired a South Plainfield industrial property that it’s now marketing to tenants, seeking to leverage the site’s low coverage and proximity to Interstate 287.

Office
Larken, Summit Health ink 4,000 sq. ft. renewal at Springfield office building

Summit Health has signed a renewal at a medical office building in Springfield, where it occupies more than 4,000 square feet under a lease with Larken Associates.

Office
Summit office building fully leased after 3,600 sq. ft. deal by financial services firm

A financial services firm has leased 3,600 square feet of office space in downtown Summit, in a newly announced deal by NAI James E. Hanson.

Industrial
Dermody acquires Somerset parcel slated for 152,000 sq. ft. warehouse project, C&W says

Dermody Properties has purchased a Franklin Township development site with approvals to build nearly 152,000 square feet of new industrial space, according to Cushman & Wakefield.

Industrial
Rockefeller Group building new 147,000 sq. ft. distribution center in Piscataway

Rockefeller Group has kicked off its second industrial project in Piscataway, with plans to build a new 147,000-square-foot distribution center about a mile from Interstate 287.