New Jersey

News

Cushman & Wakefield Arranges $52M Construction Financing for Hackensack MF Development

Steve Lubetkin | September 18, 2018

Waypoint Residential is set to launch ground-up construction of 235 class A apartments.

News

Baltimore Pharma Delivery Firm AEXGroup Leasing Linden NJ, Industrial Space

Steve Lubetkin | September 17, 2018

AEX required a facility with solid connections to the highway network in Northern New Jersey and Linden met that requirement, according to Jordan Metz of Bussel Realty.

News

$150M High Tech High School Opens in Secaucus, NJ

Steve Lubetkin | September 14, 2018

The LEED Gold, environmentally friendly, expertly designed 350,000 square-foot technical school is now open to students.

News

Harrison Street Acquires Half-Million SF Medical Office Complex in Morristown, NJ

Steve Lubetkin | September 13, 2018

“These assets are highly sought-after, especially given lack of opportunities to acquire these types of deals in the market,” says HFF's José Cruz.

News

142K SF in Leases Concluded at 44 Whippany Road

Steve Lubetkin | September 12, 2018

Last year, the property underwent a $7 million capital improvement program.

News

CBRE's Prolific Summer: No Slow-Down in NJ Leasing and Sales

Steve Lubetkin | September 11, 2018

“CBRE continued to experience outstanding leasing and sales momentum throughout the summer months,” says Jeff Hipschman, senior managing director, CBRE.

Research

Cushman & Wakefield: Life Sciences Driving Improved NJ Office Fundamentals

Steve Lubetkin | September 10, 2018

The industry’s annual contribution to the state economy is estimated at $47.5 billion—86 percent higher than the national average, says Andrew Judd, Cushman & Wakefield’s New Jersey market leader.

Monmouth Real Estate Acquires Industrial in Braselton, GA

Steve Lubetkin | September 10, 2018

The property is net-leased for 15 years to FedEx Ground Packaging System. The building is situated on approximately 93 acres.

News

New Jersey Gets $85M from EPA for Water Infrastructure Improvements

Steve Lubetkin | September 07, 2018

The EPA grants included $6.6 million awarded to the Camden County Municipal Utilities Authority for ten new rain gardens in the City of Camden and replacement of deteriorating combined sewer pipes.

News

CustomSpace Leases 82K SF in North Bergen, NJ

Steve Lubetkin | September 06, 2018

CustomSpace provides full-service warehousing, storage, and office space to businesses and individuals looking for 250 to 10,000 square feet.

News

Duke Realty Building 194K SF Spec Industrial in Meadowlands

Steve Lubetkin | September 05, 2018

The new logistics facility will provide a large block of modern, ready-to-move-into space in a high-demand market.

News

Howell Township Retail Center Sells for $6M in Deal Arranged by Gebroe-Hammer

Steve Lubetkin | September 04, 2018

Monmouth County is a historically strong retail submarket and home to some of the state’s prominent top-performing shopping centers.

News

Saddleback Real Estate Developers Continues Expansion of NJ Industrial Portfolio

Steve Lubetkin | August 31, 2018

"Our expertise lies in identifying and rejuvenating distressed properties, creating a viable asset where there was formerly an obsolete property,” says Terry Frassetto, Saddleback president.

News

Offshore Wind Farm Advocated as Job and Economic Booster

Betsy Kim | August 31, 2018

An environmental and business advocacy group’s reseach report says an offshore wind farm would create 4,000 jobs and add $730 million to New York’s economy.

News

Developer iStar Unveils Designs for Luxury Asbury Park Complex

Steve Lubetkin | August 30, 2018

iStar says it has already invested $300 million and has acquired 35 acres of land in Asbury Park in what has become its chief executive officer Jay Sugarman's 10-year, multibillion-dollar redevelopment plan for the Asbury Park boardwalk area.

Expert Opinion

PREIT's Coradino Sees Experiential, Entertainment Helping Malls Cope With Consumer Change

Steve Lubetkin | August 29, 2018

"It's not a cookie cutter," PREIT's Joseph F. Coradino says. "The answer tends to be market driven."

News

Capitol Seniors Housing Opens Arbor Terrace Mountainside in New Jersey

Steve Lubetkin | August 28, 2018

Capitol Senior Housing has other holdings in New Jersey, including the newly opened Atria Norwood, Arbor Terrace Morris Plains, and The Chelsea at the Solana Marlboro, and is opening new communities in Mount Laurel and Shrewsbury.

News

400 Claremont Urban Renewal Will Transform Chemical Manufacturing Site into Multifamily TOD

Steve Lubetkin | August 27, 2018

The former chemical manufacturing facility will be redeveloped into a residential rental building with a number of attractive amenities, parking and retail stores.

Expert Opinion

Audio Interview: Marcus & Millichap Says Out-of-State Investors See Opportunity in NJ Retail

Steve Lubetkin | August 24, 2018

New Jersey buyers aren’t used to the aggressive price bidding from New York competitors who see even record-high New Jersey prices as a bargain, says Alan Cafiero of Marcus & Millichap.

News

Retail Expertise Helps Levin Score Six New Management Assignments in NJ and PA

Steve Lubetkin | August 23, 2018

Maximizing the value, improving the efficiency and maintaining the appeal of retail centers is becoming increasingly complex, says Robert Carson, Levin's executive vice president.

News

Kislak Brokers Deals Involving Nine So. Jersey Properties Worth $67M

Steve Lubetkin | August 22, 2018

“There are still value-add opportunities in southern New Jersey, especially compared to those in the northern part of the state where pricing is considerably higher," says Kislak senior vice president Matt Weilheimer.

News

Lebanon Court Apartments Complex Changes Hands

John Jordan | August 21, 2018

The property at 1102 Jackson Blvd. was sold by High Associates to YMZ, LLC, according to Matthew Wolf, vice president, CCIM of Kislak Co., who brokered the transaction.

News

Ralph Lauren Commits to Full-Building Lease at Prism's ON3 in Nutley, NJ

Steve Lubetkin | August 21, 2018

The iconic lifestyle brand joins a number of industry-leading tenants at the Nutley, NJ, campus.

News

Storage Company Clutter Leases 450K SF in South Brunswick, NJ

Steve Lubetkin | August 20, 2018

“The storage industry generates a reported $38 billion in annual revenue, and within this sector, Clutter is carving a distinctive niche from a service perspective,” says Cushman & Wakefield's Andrew Stypa.

News

Monmouth Pays $47M for Charleston FedEx Ground Building

John Jordan | August 17, 2018

The brand-new property at 6850 Weber Blvd. in North Charleston is net leased to FedEx Ground for 15 years and totals 265,318 square feet.

News

Avanath Capital Expands East Coast Footprint With 273 Affordable Properties In NJ and FL

Steve Lubetkin | August 17, 2018

Both New Jersey and Florida are undergoing rapid economic growth and expansion, as well as experiencing significant population gains, says John Williams, president of Avanath, leading to increased demand for affordable housing options across both states.

News

PTC Therapeutics Extends 90K SF Lease in South Plainfield

Steve Lubetkin | August 16, 2018

PTC Therapeutics specializes in genetic research focused on discovering and developing novel oral treatments for patients with serious and life-limiting disorders.

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.