The economic engine powering the New Jersey industrial real estate market will continue to be the rapidly transforming retail sector, driven primarily by relentlessly rising demand from consumers for rapid home delivery of purchases, whether from online retailers or traditional but restructured brick-and-mortar retailers.
A planned retail center in Wayne has joined the growing list of redevelopment projects in the municipality, thanks in large part to a locally based construction firm led by township residents.
Even in the extraordinarily tight industrial market in northern New Jersey, a century-old nonprofit with a good brand and a long-term lease plan can still acquire new warehouse space. Of course, it doesn’t hurt when the nonprofit sees e-commerce as a vital part of its future.
An ownership and management team is hailing the turnaround of a 344-unit apartment complex in Ocean County, spurring improved retention and an increase in rental rates as part of an effort that has garnered acclaim from the industry’s top trade association.
In a Jersey City building, the place where you park your Lexus is going to become the place where you pick up lettuce — a change that has required the help of a locally based engineering team.
A development group led by a local family-owned business has broken ground on a project that will add six apartments to the site of historic glass business in downtown Princeton.
Alfred Sanzari Enterprises and Better Spaces recently debuted The Pointe, a new space that will serve as a focal point for programming the amenities at the Glenpointe complex in Teaneck. The new services include free yoga classes for tenants, along with ping pong tournaments, meditation sessions and other offerings. — Courtesy: Alfred Sanzari Enterprises
With renters flocking to Walker House’s 264 apartments and commitments from a host of retailers, L+M Development Partners is keenly focused on the third piece of its formula. The New York-based developer, alongside brokers with JLL, has stepped up efforts to market more than 50,000 square feet of available office space at the building, touting the promise of downtown Newark’s resurgence and a workplace that is like few others in New Jersey.
A joint venture is reaping the rewards of a plan to reposition a sprawling research and development complex in Bridgewater, having sold the campus for more than $150 million. All the while, the deal has cast a light on the allure of life sciences as a real estate investment class and the power of collaboration by brokers across multiple geographic markets.
Piscataway’s office market has bounced back in recent years, with rents rising and vacancy falling, thanks to new investment and redevelopment that have helped revitalize and right-size the township’s stock of buildings.