Uncategorized
JLL inks $20 million loan for 126-unit Netcong project

M&T Bank is providing nearly $20 million in construction financing for a joint venture’s new 126-unit apartment development in Netcong, in a transaction arranged by JLL.

Office
JLL: Transit hub submarkets stay on track with rent growth, tenant demand

Office markets around New Jersey’s transit hubs are still outshining their suburban counterparts, with a widening gap in asking rents and continued interest from major tenants.

Office
JLL: Design firm takes 7,000 sq. ft. at Edison’s Ironside Newark project

Design firm Ware Malcomb is joining the tenant roster at the Ironside Newark project, where it has leased 7,000 square feet under an agreement with Edison Properties.

Industrial
Freezer, cooler space in high demand in New Jersey, as users face a lack of supply

Demand for cold storage warehouse space nationwide, and particularly in the Garden State, is on fire, largely because of rising online fresh grocery sales and changing consumer preferences for fresher foods. Meeting that demand could prove challenging — given the cost and complexity of such projects and the need for specialization — but some developers are positioning themselves to be ready when users come calling.

Health Care & Education
JLL: Atlantic Health adds 92,000 sq. ft. ‘health pavilion’ in Rockaway for $26 million

Atlantic Health System has acquired a 92,326-square-foot property in Rockaway for nearly $26 million, becoming an owner-occupier at a site that already houses many of its medical services.

Office
Summit Medical inks $140 million sale of flagship medical office campus

Summit Medical Group has sold its flagship 270,000-square-foot medical office campus in Berkeley Heights, where it is now a tenant as part of a sale-leaseback agreement.

Retail
JLL touts seven new retail leases in New Jersey

A well-known fur retailer is leasing 6,000 square feet in Flemington, in one of several newly announced transactions by JLL.

Office
Bohler relocating headquarters, takes 35,000 sq. ft. in Warren

Bohler Engineering has leased more than 35,000 square feet in Warren as part of a plan to relocate its headquarters within the township, brokers with JLL said Tuesday.

Health Care & Education
JLL: Mahwah investor expands out of state, acquires medical office asset in Syracuse

A Mahwah-based commercial real estate investor has acquired a two-building medical office complex in Syracuse, New York, in an $18 million sale arranged by JLL.

Finance & Capital Markets
Developers land construction loan for 220-unit Englewood rental project

A joint venture is eyeing a 2020 delivery for new luxury apartments in Englewood, brokers with JLL said, having secured construction financing for the 220-unit project.