The properties include Dover Chase, a 110-unit townhome rental community in Toms River; Kumar Soni Plaza, a 40,000-square-foot, newly constructed retail center in Edison; and the 63,440-square-foot Sparta Business Campus in Sparta in Sussex County.

Company president Brian Silbert says that 70% of its portfolio is made up of retail properties, with the remainder being residential, office or industrial. He tells GlobeSt.com that multifamily is the best performing sector, although there are some pockets of softness.

"In New Jersey, we are seeing the multifamily market is still probably among the strongest sectors today," he says. "However, we are seeing some lessening of demand in corporate rentals, as the corporate base has eroded commensurate with the economy. But the private lessee market, not necessarily a corporate rental, is still strong, although we have seen variation from project to project. Some are offering a larger concession whereby a year ago they weren't offering any concession." Dover Chase is owned by AST Development, a builder of commercial and residential complexes in New Jersey.