Joshua Burd
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Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.

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No slowing down: Growth of e-commerce, last mile delivery and the densest state in America

The New Jersey industrial market has continued on its historic pace with vacancy rates dropping below 3 percent across the state. This has been driven by the unprecedented demand from online retailers and e-commerce-driven businesses desperate for warehousing and “last mile” distribution. E-commerce had already been on a rapid ascent for years with its share of the total retail market more than quadrupling since 2010. With the pandemic shuttering most brick-and-mortar locations for the better portion of 2020, e-commerce had taken on another level of growth. According to the U.S. Department of Commerce, sales increased 31.73 percent year over year, the fastest growth rate in 10 years, nearly doubling the second-highest growth rate of 17.81 percent in 2011.

Industrial
NAI Hanson: Trucking firm, bath fixture business lease 42,000 sq. ft. in Secaucus

Two tenants have leased a combined 42,000 square at a Secaucus industrial building, in a set of newly announced transactions by NAI James E. Hanson.

Top News
CBRE: Banks, cloud service firms fuel uptick in tristate data center demand

The data center market in and around New Jersey saw a notable rebound in the first half of 2021, thanks in large part to demand from the financial services sector.

Industrial
Brooklyn-based restaurant supplier buys 71,000 sq. ft. Pennsauken warehouse

A restaurant supplier is expanding its footprint with its purchase of more than 71,000 square feet of industrial space in Pennsauken, according to brokers with Colliers International.

Residential & Mixed Use
Harbor Group, Cammeby’s acquire 5,300 apartments in New Jersey for $1 billion

An investment group has acquired more than 5,300 apartments in the state for a combined $1.05 billion, in a transaction that spans 14 cities in northern, central and southern New Jersey.

Office
Princeton office park home to Merrill Lynch, Bristol-Myers on the market for sale

A fully leased, two-building office complex in West Windsor is on the market for sale, boasting a list of high-profile tenants and a location three miles from downtown Princeton.

Industrial
Solar Landscape, Duke unveil rooftop system powering 375 homes in North Jersey

An industrial owner and a developer of solar panel systems have teamed up on another project in New Jersey, unveiling a new installation atop a Wood-Ridge distribution center.

Retail
Southern-style barbecue concept picks Bell Works for second location

Another restaurant is expanding into Bell Works, joining a growing roster of eateries and retailers at the 2 million-square-foot mixed-use complex in Holmdel.

Retail
Goldstein Group details early education provider’s lease at Middletown retail site

An early education provider has leased 10,000 square feet at a former restaurant site in Monmouth County, in a transaction announced by The Goldstein Group.

Residential & Mixed Use
Tolls Bros., Davis Cos. sell Princeton apartments for $92 million

A joint venture has sold a three-year-old, 232-unit luxury apartment property outside Princeton for more than $90 million, in a newly announced transaction by JLL.