New Jersey

News

Rittenhouse Realty Closes Two Deals in Allentown

John Jordan | August 15, 2018

The real estate advisory firm states the portfolio was 100% occupied at the time of the sale and traded for a total value of $2.755 million.

Industrial Drives PGIM Real Estate Finance Lending

Erika Morphy | August 15, 2018

Core-plus financing and multifamily lending will also be areas of focus for the division.

News

NAI Hanson Brokers Deal to Preserve 224 Acres in Lebanon Township, NJ

Steve Lubetkin | August 15, 2018

"We continue to see preservation groups show interest in acquiring and protecting high-quality land like this from development," says NAI Hanson's John J. Schilp.

News

Automotive Tool Firm Takes 86K SF Industrial Lease in Somerset, NJ

Steve Lubetkin | August 14, 2018

ISN has transitioned from a subtenant to occupy the entire property.

News

Capital Realty Arranges Milestone $130M MF Portfolio Transaction in Bayonne/Union City

Steve Lubetkin | August 13, 2018

Setting a new benchmark in the Bayonne area, Capital Realty arranged the sale of 919 apartment units for an out-of-state seller for $130 million.

News

Dr. Praeger's Leases Rare Freezer Space In Edison

Steve Lubetkin | August 10, 2018

The fully racked freezer space at 180 Raritan offers temperatures as low as -20 degrees, which CBRE senior vice president Lou Belfer says is a unique feature in the market.

News

Colliers Uses Ten-X Online Platform In Piscataway Office Sale

Steve Lubetkin | August 09, 2018

Colliers used Ten-X and its own proprietary investor database to market the property, resulting in 10 qualified, active bidders and the execution of 135 confidentiality agreements.

News

Sitex Adds 83K SF Moonachie, NJ Warehouse to Portfolio

Steve Lubetkin | August 08, 2018

Sitex will renovate the property’s interior and exterior – as it has dozens of other properties in the area – improving functionality and aesthetics to appeal to corporate occupiers.

News

Artificial Intelligence-Based Data Monitoring Helps ETS Clients Control Energy Costs

Steve Lubetkin | August 07, 2018

In our exclusive radio interivew, ETS' Jeff Hendler says his firm's AI platform can help buildings take full advantage of electric rate discounts.

News

Gebroe-Hammer First Half Sales Hit $775M

Steve Lubetkin | August 06, 2018

“The first six months have been extremely robust in terms of deal totals and units sold, with demand for every asset class—from class-A to value-add B/C product—hitting all-time high levels,” says Gebroe-Hammer's Ken Uranowitz.

News

Brookfield and Vornado Save Kushner Cos. from 666 Fifth Avenue's Looming Debt

Betsy Kim | August 06, 2018

Kushner Cos. sells a 100% leasehold interest to Brookfield and buys the 49.5% stake from Vornado in its debt-saddled Midtown tower.

Thought Leadership

P3 Buys Somerset Financial Center from Related Cos.

Steve Lubetkin | August 03, 2018

P3 will be applying its BLUE brand of management to Somerset Financial Center.

News Thought Leadership

Colliers NJ Names Avison Young Exec to Replace Simon as EMD

Steve Lubetkin | August 02, 2018

"With Dennis, we are getting a seasoned real estate executive with decades of experience in managing brokerage firms, specifically within the New Jersey market,” says David Amsterdam, Colliers president - investments, leasing and eastern region.

News

Camber and Advance Acquire Industrial Portfolio in Allendale

Steve Lubetkin | August 01, 2018

Alexander Cocoziello of Advance Realty says his firm and partner Camber plan to hold the properties as a long-term investment.

News

B6 Hires Executive Managing Director of New Jersey Operations

Betsy Kim | July 31, 2018

David A. Simon leaves executive managing director position at Colliers International to join Paul Massey’s newly formed investment sales and capital advisory brokerage firm.

Thousand Oaks Village In Atlantic Highlands Trades For $56M

Steve Lubetkin | July 31, 2018

1980s-era multifamily product within the submarket has the lowest vacancy rate and accounts for approximately 11% of the apartment inventory.

News

NAIOP Panelists: Regulatory Changes, Court Actions Reshaping Development

Steve Lubetkin | July 30, 2018

Jeffrey J. Milanaik of Bridge Development, NJ DEP Commissioner Catherine McCabe, and NAIOP NJ CEO Michael McGuinness were among speakers addressing the changes.

News

Port Cargo This Year Sets New Record

John Jordan | July 27, 2018

The cargo volume increase was fueled by a 7.8% rise in loaded import containers, primarily carrying commodities such as furniture, appliances and beverages.

News

Hackensack Expands Special Improvement District

Steve Lubetkin | July 27, 2018

The expansion area will be incorporated into the current Special Improvement District, making MSBA’s services available to the more than 30 businesses located within the new area.

News

Spirit Bascom Pays $18M for Hoboken's Columbus Park Apartments

Steve Lubetkin | July 26, 2018

“The strength of the Hoboken rental market continues to attract aggressive capital,” HFF's Steve Simonelli says, because of the potential for upside in rent rates.

Teva Takes 345K SF at MCCBLUE in Parsippany

Steve Lubetkin | July 25, 2018

MCCBLUE is a class A commercial office complex composed of four four-story buildings connected by a grand atrium.

Research

Research: MF Development Has Bigger Impact on Schools Than Believed

Steve Lubetkin | July 24, 2018

The study provides critical data to better inform decision-making for the public and private sectors alike.

News

Edison Properties Adds 1160 Raymond Blvd. to Parking Portfolio

Steve Lubetkin | July 23, 2018

“24-hour parking demand is increasing, commensurate with stepped-up downtown multifamily and hospitality development,” says Cushman & Wakefield's Ryan Larkin.

HFF Arranges Financing for Class A Industrial Near Philadelphia

Steve Lubetkin | July 20, 2018

Loan proceeds will be used to return equity to the sponsorship, HFF says.

Net Lease Investors Drive $129M in 1H2018 Property Sales for CBRE

Steve Lubetkin | July 20, 2018

The 58 properties spanned 10 states, including 39 properties in Pennsylvania and seven in New Jersey.

Global Logistics Firm Leasing 110K SF in Kearny, NJ

Steve Lubetkin | July 19, 2018

“Mainfreight’s decision to take industrial space at 50 Cable Drive is a testament to northern New Jersey’s extensive transportation network, population density and educated workforce,” says CBRE's William Waxman.

News

NY, CT, MD and NJ File Suit Against Tax Reform Law

John Jordan | July 18, 2018

The long-promised lawsuit filed by New York State Attorney General Barbara D. Underwood specifically points to the federal tax reform law capping the SALT deduction at $10,000 as damaging to state taxpayers. The litigation was joined by the attorneys general of Connecticut, Maryland and New Jersey.

Paramount Assets Adds 560 Broad St. To Its Newark Portfolio

Steve Lubetkin | July 18, 2018

560 Broad Street lies in the heart of Newark’s Central Business District within walking distance of NJ Transit’s Broad Street Station

Transwestern: NJ Office Rents Rebound, Newark Tops $30/SF

Steve Lubetkin | July 17, 2018

The market’s diversity was on display during the quarter, as companies from various industries, including retail, manufacturing, life sciences, insurance and telecommunications, signed large office leases, say Transwestern's Matthew McDonough and Matthew Dolly.

Research

WCRE: Southern NJ & Philly See Moderate Gains In Q2

Steve Lubetkin | July 16, 2018

There were approximately 303,656 square feet of new leases and renewals executed in the three counties surveyed (Burlington, Camden and Gloucester), a gain of about 10% over the previous quarter, says WCRE's Jason Wolf.

Middle-Market Digest

Middle Market Digest – The Northeast

Steve Lubetkin | July 13, 2018

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

News

Low Vacancy, Modest Construction Feed Gebroe-Hammer Central NJ MF Sales

Steve Lubetkin | July 13, 2018

“Each of these Monmouth County class-B properties is poised for value-add enhancements and are among the most attractive asset class for investors, particularly since they account for almost 64% of the Central Jersey metro’s total inventory,” says Gebroe-Hammer's Adam Zweibel.

Waiting For Banks To Drop Libor

Erika Morphy | July 13, 2018

Regulators on both sides of the Atlantic are eager to see banks wean themselves off of Libor.

News

NJ Industrial Demand Outpaces Supply in Q2, Office Activity Jumps

Steve Lubetkin | July 12, 2018

“During the first half of the year, ongoing demand for strategic distribution locations helped drive rental rates to historically high levels,” says Colliers International's David A. Simon.

Colony Industrial Buys Maryland, Other Industrial Facilities

Erika Morphy | July 11, 2018

All together the company has acquired 1.1-million square feet in three markets.

Video

Unique Senior Housing Underway in Cherry Hill

Steve Lubetkin | July 11, 2018

The project will include 160 new units of high-quality, affordable rental housing for older adults and adults with special needs.

Capitol Seniors Builds Active Living MF in Cinnaminson

Steve Lubetkin | July 10, 2018

“Siena is indicative of active living communities, a rapidly growing subsector of senior living that appeals to adults ready to downsize, live near neighbors like themselves, but not quite ready for the more traditional independent senior living community,” says Michael Hartman, principal – active living, Capitol Seniors Housing.

NJ PE Fund Acquires GA Apartment Complex

Steve Lubetkin | July 10, 2018

"With its current occupancy rate of 98%, strong fundamentals, along with corporate and business expansion, we believe this acquisition is an excellent opportunity to increase our presence in Georgia, a target area for our firm,” says Albert Lord III, founder and CEO of Lexerd.

Video

Exec: NJ's Shift of Remediation Burden Speeds Redevelopment

Steve Lubetkin | July 09, 2018

From the time the LSRP program was fully implemented in 2012 to the end of 2015, NJDEP reported that the number of cases closed rose from 1,200 to 7,500. This number surpassed 10,000 in 2017 and is on pace to reach 12,000 this year.

Middle-Market Digest

Middle Market Digest – The Northeast

Steve Lubetkin | July 06, 2018

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

C&W Reports Historic NJ Industrial Fundamentals

Steve Lubetkin | July 06, 2018

One Stop Logistics’ 369,294-square-foot lease at 83 Stults Road in South Brunswick (pictured) was one of the largest commitments this quarter, says Cushman & Wakefield.

Five New Tenants Leasing at Secaucus Flex Property

Steve Lubetkin | July 05, 2018

“Demand for high quality flex space in Secaucus is strong, and 1 County Road is meeting the demand with a compelling product and superior location,” says CBRE’s Kevin Dudley.

Perth Amboy Cold Storage Facility Sold to Broadstone Net Lease

Steve Lubetkin | July 03, 2018

“Investors responded very favorably to this offering given the uniqueness of the asset and the property’s superb location,” says HFF's José Cruz.

Event Coverage

Newark, 'The Brick City,' is the Hub of the Internet

Steve Lubetkin | July 02, 2018

The Newark data infrastructure now is the envy of many locations around the country, featuring 10 gigabit-per-second speed, one of the fastest urban data networks.

Middle Market Digest – The Northeast

Steve Lubetkin | June 29, 2018

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

News

Oxford Realty Group Acquires 152-Unit Highland Park MF Property for $30M

Steve Lubetkin | June 29, 2018

Highland Park is highly desirable to executives and academics with families because it is trendy with a thriving arts and dining scene, according to Gebroe-Hammer's Joseph Brecher.

News

Cosmetic Maker Acquires 71K SF Fairfield Industrial from Hampshire

Steve Lubetkin | June 28, 2018

16 Law Drive provided the ideal opportunity to meet JEEN International's current space needs while offering substantial opportunities to renovate the property to suit long-term requirements.

Research

Survey Shows Retail Tenants More Confident Than Ever

Steve Lubetkin | June 27, 2018

The survey, which gauges year-to-date store performance and checks in on the latest technology trends, generated the strongest numbers in its seven-year history.

News

Odin Properties Sells Lindenwold Apartment

Steve Lubetkin | June 26, 2018

“At just 4.1%, the Greater Philadelphia vacancy rate is considered ‘typical’ by local standards at the peak of a construction boom highly concentrated within Center City,” says Gebroe-Hammer's Eli Rosen.

Multistory Distribution Buildings On the Way

Brian J. Rogal | June 25, 2018

Same-day delivery is needed in dense urban areas, and some believe multistory buildings are an answer.