With 2019 underway, competition among commercial real estate investors has only intensified in New Jersey, largely around properties that offer some level of safety in the later stages of the economic expansion.The Garden State is by no means alone in that regard, but brokers and other experts say they expect demand to stay robust in the near term, citing everything from Wall Street volatility to the continued arrival of buyers from other markets.
A two-tower, 648-unit apartment complex that helped usher in Jersey City’s transformed skyline has hit the market for sale.
Woodmont Properties has completed its lease-up at one of its newest luxury rental communities and has put the 126-unit property on the market for sale.
It’s hard to believe that more than two years have passed since we launched Real Estate NJ with what I felt was a compelling cover story: Foreign investors were making a splash in New Jersey and paying impressive prices for properties across the state. That trend has seemingly slowed since then, at least when it comes to high-profile deals involving trophy properties. But the good news is that New Jersey is still drawing investors from beyond the state — whether it’s New York, Chicago or the West Coast — who are entering the market for the first time.
A private equity group has acquired a recently upgraded, 178,000-square-foot office building in East Hanover, in a transaction arranged by brokers with HFF.
A longtime partner in a Fairfield office building has assumed full ownership, thanks in part to more than $27 million in financing arranged by brokers with HFF.
Brokers with HFF are seeking a buyer for a 288-unit apartment complex in Carteret, touting the property’s below-market rents and the opportunity for value-add upgrades.
Mack-Cali Realty Corp. has sold a nearly 193,000-square-foot office building in Bridgewater to Edgewood Properties, in a newly announced deal by Cushman & Wakefield.
A joint venture has acquired a vacant, 134,500-square-foot warehouse just off the New Jersey Turnpike extension in Jersey City, in a newly announced transaction by HFF.