Market Sectors

New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.

Featured

Advance launches Bridgewater innovation campus with up to 1.1 million sq. ft. of ‘purpose-built’ R&D, advanced manufacturing space

Advance Realty Investors has unveiled plans to build up to 1.1 million square feet of new life science and advanced manufacturing space in Bridgewater, part of a campus that will have shared amenities to create what it’s touting as a cohesive, end-to-end ecosystem.

Finance & Capital Markets

JLL sources acquisition loans totaling $71 million for Bergen County, Southeast retail portfolio

Medipower Group has scored a combined $71.3 million in acquisition financing for a Bergen County shopping center and six retail properties in the Southeast.

Retail

RIPCO: Costello’s Ace Hardware opens new flagship New Jersey store in Cedar Knolls

A new Ace Hardware has arrived in the Cedar Knolls section of Hanover, occupying 23,000 square feet along Ridgedale Avenue under a lease secured by RIPCO Real Estate.

Office

AY: Verdantas takes 11,000 sq. ft. in Bridgewater to combine three Somerset County offices

Environmental consulting firm Verdantas has found a new home in Central Jersey after leasing nearly 11,000 square feet of office space in Bridgewater.

Industrial

CenterPoint sells 4.3-acre industrial service facility in Avenel to Jadian IOS, CBRE says

CenterPoint Properties has sold a 4.34‑acre industrial service property in the Avenel section of Woodbridge, brokers with CBRE announced Monday.

People

NRBP welcomes Turner Construction’s Faber to board of directors

Stacie Faber of Turner Construction Co. has joined the Newark Regional Business Partnership’s board of directors, succeeding the firm’s Lawrence Boresen in the volunteer role.

Industrial

Mapletree plans two-building, 953,000-square-foot logistics park after securing Manalapan site

Mapletree Investments has acquired some 97 acres in Monmouth County with plans to develop nearly 953,000 square feet of new industrial space across two buildings.

People

Smith, recent addition to NAI Hanson, joins firm’s Institutional Services Group as analyst

Russell “Pepe” Smith has joined the fast-growing Institutional Services Group at NAI James E. Hanson, the state’s largest locally based independent commercial real estate services firm.

Retail

Tulfra, Hampshire welcome Chipotle (with ‘Chipotlane’) to Belleville’s Park 11 complex

A new Chipotle Mexican Grill has opened in Belleville, marking the latest addition to a mixed-use redevelopment project by Tulfra Real Estate and The Hampshire Cos.