Jessica Perry

New Jersey

Managing Editor and Commercial Real Estate Reporter at NJBIZ

Managing Editor | CRE @NJBIZ. Also, I watch movies 🎞️. Blue skies, smiling at me: @perryface.bsky.social

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Articles

Linden Logistics Center secures $300M financing

4 days ago | njbiz.com | Jessica Perry

The basics:Cushman & Wakefield arranged $300M loan for Linden industrial siteNorthwestern Mutual provided fixed-rate permanent financingSite offers port, airport and highway access to 100M+ consumersCushman & Wakefield secured financing at Linden Logistics Center, which boasts a footprint covering more than 1.58 million square feet.
South Jersey warehouse signs logistics tenant for 1.2M square feet

5 days ago | njbiz.com | Jessica Perry

The basics:Maersk‘s Performance Team leases 1.2M sq. ft. warehouse space in South JerseyLogistics Property Co. LLC signs tenant for Box Park Logistics CenterSite expected to create 1,000 jobs in CinnaminsonLogistics Property Co. LLC signed a tenant for 1.2 million square feet of South Jersey warehouse space at its Box Park Logistics Center in Cinnaminson. The logistics real estate owner, developer and manager announced the transaction at the Class A warehouse located at 995 Taylors Lane May 21.
$20M all-cash deal sets Jersey City per-unit record

1 week ago | njbiz.com | Jessica Perry

The sale of Jersey City luxury apartment building 70 Central Lofts is record setting, according to The Kislak Co. Inc. The Woodbridge-based commercial real estate brokerage exclusively marketed the five-story property located at 70 Central Ave., which was completed in 2024, on behalf of seller Legacy Development Group. According to a May 29 announcement from Kislak, Vice President Davis Briones led the assignment and procured the buyer, 70 Central Lofts LLC.
Bergen County enlists Balcony to tokenize $240B in real estate

1 week ago | njbiz.com | Jessica Perry

The basics:Bergen County, Balcony to digitize 370,000 property deedsNation’s largest blockchain deed project uses Avalanche techMove improves security, speeds up processingInitiative brings $240B in NJ real estate value on-chainA landmark blockchain deed deal in New Jersey is big news for the state, and more broadly, as Balcony and Bergen County pursue efforts to bring approximately $240 billion in real estate value on-chain.
Jersey City tower tops out at 54 stories

1 week ago | njbiz.com | Jessica Perry

The basics:Panepinto Properties tops out 54-story, 577-foot tower in Journal SquareNew name unveiled: 505 Summit, with 605 apartments and retail spaceLeasing to launch spring 2026; The Marketing Directors tapped as agentAmenities include pool terrace, coworking space, sports simulator and skyline viewsAfter breaking ground two years ago, Panepinto Properties celebrated the next milestone at its rising Jersey City project: topping out the 54-story Journal Square residential building at 577 feet.
24K-square-foot Glen Rock retail center sold

1 week ago | njbiz.com | Jessica Perry

With 10 tenants, a fully occupied retail center in Glen Rock has a new owner. Cushman & Wakefield announced arranging the sale of the 24,353-square-foot neighborhood retail center at 886-924 Prospect St. May 28. Managing Director Andrew Schwartz, Director Jordan Sobel, Senior Associate André Balthazard and Associate Dan Bottiglieri represented the seller, Rock Glen Associates LLC. Elmwood Park-based Brentwood Realty acquired the property, CushWake said.
SOCO names new top execs in leadership transition

1 week ago | njbiz.com | Jessica Perry

Bedminster-based SOCO Construction is heading into its next chapter with new leadership at the helm. The employee-owned commercial contractor announced a shift in roles for Matthew Lorenzo, Seth Levy and Bradley Smith May 23. Over more than 20 years the trio has built the former Sordoni Construction Co. from a small team into a regional construction management firm. Moving forward, Lorenzo – who has held leadership roles since SOCO’s founding – will transition to senior advisor and board member.
Landmark Somerville commercial building sells for $2.7M

1 week ago | njbiz.com | Jessica Perry

The basics:The Granetz Building in downtown Somerville sells for $2.7 millionProperty spans 45,000 square feet with two additional parking lotsBuyer closed without contingencies; redevelopment plans likelyTowering over Main Street near the the far end of downtown Somerville, the circa-late 19th century The Granetz Building recently sold for $2.7 million. The Kislak Co. Inc. announced the transaction for 201-217 W. Main St. May 27 following its exclusive marketing of the site.
Northeast office markets post lower vacancies, higher rents

1 week ago | njbiz.com | Jessica Perry

The basics:Northeast office markets posted below-average vacancies in AprilManhattan, NJ had lowest vacancy rates in the regionSuburban demand grows as CBDs face ongoing strugglesNJ registers $436M in office sales; $33.45 per square foot in average rentsWhile occupancy rates may be less certain comparatively, a new report finds all Northeastern markets posted vacancy rates below the national average (19.7%) in April.
Sanofi's $130M Morristown flagship puts people first

2 weeks ago | njbiz.com | Jessica Perry

The basics:Sanofi relocates 2,000 employees to new $130M Morristown flagshipM Station West features nature-inspired, people-focused designIncludes coworking space, employee clinic, rooftop terraceGov. Murphy joins Sanofi leaders to unveil new officeWhen Sanofi decided to move its New Jersey flagship from Bridgewater to Morristown, it worked to raise the bar on the office space. Following its debut this week, it feels like mission accomplished.