Finance & Capital Markets
Walters refis 70,000 sq. ft. Barnegat shopping center for $8 million, JLL says

Walters has secured an $8.3 million loan to refinance a grocery-anchored shopping center in the Ocean County township of Barnegat, according to a debt placement team with JLL.

Residential & Mixed Use
JLL: Inspired completes $15 million land deal for 155-unit condo project in Asbury Park

Inspired by Somerset Development has closed on its purchase of a parcel in Asbury Park where it plans to build 155 high-end condominiums and retail space, brokers with JLL announced.

Finance & Capital Markets
JLL: Organic food maker snags $23 million loan to acquire 209,000 sq. ft. facility in Logan

A food manufacturer has landed a $23 million acquisition loan for a nearly 210,000-square-foot warehouse and distribution center in Logan Township, brokers with JLL said Thursday.

Finance & Capital Markets
JLL: Woodmont refis after leasing up 443-unit West Windsor rental property

Woodmont Properties has secured permanent financing for its newly built, 443-unit multifamily property in West Windsor, in a deal arranged by JLL.

Technology
Nokia to open new 360,000 sq. ft. facility in New Brunswick by 2028, eyeing ‘the next 100 years’ of its historic Bell Labs research arm

Nokia Bell Labs will break ground in 2025 on its new 360,000-square-foot facility in downtown New Brunswick, executives said Monday, as they hailed a project that will allow it to remain at the forefront of innovation while boosting its appeal for the state’s future talent pool.

Office
JLL: New-look medical office building in Montvale adds psychology practice as latest tenant

A psychology practice has taken 1,000 square feet at a newly modernized office building in Montvale, according to a leasing team with JLL.

Finance & Capital Markets
JLL: Spitzer, Titanium ink $19 million refi for new 83-unit Journal Square rental project

An investment group has snagged nearly $19 million to refinance a newly built, 83-unit apartment building in Jersey City, according to a debt placement team with JLL.

Office
JLL marketing 104,000 sq. ft. office building, potential redevelopment site in Parsippany

The site of a 104,000-square-foot office building in Parsippany is on the market for sale in what brokers say is a new opportunity in the town’s growing redevelopment pipeline.

Office
Footwear, apparel maker SG Cos. takes 14,000 sq. ft. in Rochelle Park, JLL says

A multinational footwear and apparel company has signed a long-term lease for some 14,000 square feet at a Rochelle Park office building, in a newly announced deal by JLL.

Professional Spotlight
JLL

JLL represented Merck & Co. in the disposition of its headquarters location at 2000 Galloping Hill Road in Kenilworth, NJ. Situated on 108 acres just off the Garden State Parkway, the headquarters campus consists of nearly 2 million square feet of office and life science/lab space, as well as two parking decks and a central utility plant. JLL helped structure the short-term leaseback as well as assisted the buyer with acquisition financing. JLL was also retained by the buyer, a joint venture of Onyx Equities and Machine Investment Group, to help reposition and lease the property once repositioned as a state-of-the-art life science campus.