Finance & Capital Markets
JLL: Buyer sought for Meadowlands hotel site with multifamily redevelopment prospects

The site of the Hilton Meadowlands Hotel and its parking lot in East Rutherford is on the market for sale, in an offering that could yield two multifamily redevelopment opportunities.

Office
Two tenants lease a combined 6,500 sq. ft. at Montvale medical office building

The owner of a 32,000-square-foot medical office building in Montvale has attracted two new tenants to the property, according to a leasing team with JLL.

Office
Clinical researcher expanding, moving to AEP-owned office space in Warren, JLL says

A clinical trial company is expanding and relocating to a Warren office building under a lease with American Equity Partners, in a newly announced transaction by JLL.

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.

Finance & Capital Markets
JLL inks $26 million construction loan for 115-unit luxury rental project near Princeton

A developer has landed a $26.3 million construction loan for a planned 115-unit luxury apartment property outside Princeton, brokers with JLL announced Wednesday.

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.

Professional Services
JLL taps longtime team member as associate focused on multifamily investment sales

A longtime member of JLL’s New Jersey capital markets practice is now an associate with the Morristown-based team.

Finance & Capital Markets
Investors take pause, reassess as interest rates shock commercial real estate market

The rapid rise in interest rates has caused a sudden slowdown and growing uncertainty in New Jersey’s investment sales market, leading buyers to reassess their plans in the near term, while placing newfound pressure on even the strongest asset classes.

Office
Pharma, life sciences users leading New Jersey office leasing in 2022, JLL finds

From leasing to new construction, pharmaceutical and life sciences firms remained a leading force in New Jersey’s commercial real estate market through the first three quarters of 2022.

Residential & Mixed Use
Bijou, Accurate to partner in Montclair apartment project, in joint venture deal brokered by JLL

Development firms Bijou Properties and Accurate are teaming to build 74 luxury apartments in downtown Montclair, brokers with JLL announced Monday.