Professional Services
CBRE promotes Forcello to New Jersey market leader, senior managing director

Will Forcello has taken the reins as CBRE’s market leader in New Jersey, assuming the post after serving in an interim role since late last summer.

Professional Services
WilkinGuttenplan promotes Brady to co-leader of real estate practice

Accounting and advisory firm Wilkin & Guttenplan PC has promoted Amanda Brady to co-practice leader of its real estate division.

Deals
Zimmel inks sale of 13,000 sq. ft. East Brunswick medical building

Zimmel Associates has brokered the sale of a 13,336-square-foot medical building in East Brunswick to Avatar Residential Detox Center for $2.1 million, the firm announced Tuesday.

Top News
Project tour, expansion to new schools helping to grow ULI’s UrbanPlan program for students

The Urban Land Institute’s UrbanPlan program is growing in New Jersey with its recent expansion to a second school district and a project tour led by Russo Development, creating new opportunities for students to participate in hands-on, simulated real estate planning.

Professional Services
Forcello, CBRE’s Central Jersey market leader, named managing director

CBRE has promoted Will Forcello to managing director, his latest role during more than 15 years with the real estate services firm.

Finance & Capital Markets
NAIDB: Morris, Middlesex counties shine in subdued capital markets environment

In a somewhat muted environment for commercial real estate investment, Morris and Middlesex counties were two bright spots in New Jersey in the second half of 2023.

Professional Spotlight
Newmark

Newmark has been fortunate to be involved in several award-winning large office transactions in the Garden State recently. This past year Gilead leased approximately 100,000 SF at Latitude in Parsippany, for which we represented both the tenant and landlord. Also in Parsippany, we completed Avis Budget Group’s new U.S. headquarters transaction in excess of 150,000 SF. Significant current landlord representation assignments in the office sector include 2 Gatehall Plaza (on behalf of owner SRG2 Partners LLC) in Parsippany, NJ; Glenpointe (on behalf of owner Alfred Sanzari Enterprises) in Teaneck, NJ; River Centre (on behalf of owner Paramount Realty) in Red Bank, NJ; Woodbridge Corporate Plaza (on behalf of owner Northeast Capital Group) in Iselin, NJ; and many other prominent office properties.

Residential & Mixed Use
FirstService named property manager for East Brunswick condo complex

The owners of a 184-unit condominium complex in East Brunswick have tapped FirstService Residential to manage the property.

Industrial
Greek Development rebrands amid growing platform, third-party service offerings

Greek Development is now Greek Real Estate Partners, as the firm looks to highlight its growing selection of third-party services beyond its own portfolio of industrial buildings.

Office
TFE adds 22,000 sq. ft. office, medical building in East Brunswick

TFE Properties LLC has acquired a nearly 22,000-square-foot commercial and medical office building off Route 18 in East Brunswick, the firm announced.