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.

Professional Services
Former Gebroe-Hammer brokers Oropeza, Jarvis launch ICON Real Estate Advisors with $35 million sale of Piscataway rental property

Two former brokers with Gebroe-Hammer Associates have launched a new venture, ICON Real Estate Advisors, marking its debut with the sale of a 110-unit rental property in Piscataway.

Office
C&W: Windels Marx taxes 12,000 sq. ft. in Florham Park in deal with Vision Properties

Windels Marx, Lane & Mittendorf LLP has found a new home in Morris County after signing a nearly 12,000-square-foot office lease in Florham Park.

Industrial
PSE&G buys Hillside industrial site for $4.4 million, eyeing substation expansion

PSE&G has acquired an industrial outdoor storage parcel in Hillside that will allow it to expand a substation on a neighboring property, brokers with NAI James E. Hanson said Wednesday.

Industrial
Owner-occupier buys Middlesex flex building in $1 million deal arranged by Kislak

The Kislak Co. Inc. has brokered the sale of a nearly 6,400-square-foot industrial flex building in Middlesex Borough, the Woodbridge-based firm announced Wednesday.

Residential & Mixed Use
Hoboken building with apartments, retail space fetches $3.5 million, Marcus says

A private investor has purchased a nearly 3,600-square-foot residential and retail building in Hoboken for $3.47 million, in a newly announced deal by Marcus & Millichap

Events
Is Newark a magnet for capital? Yes, but it’s complicated.

It was a reminder of Newark’s allure as a destination for those who see the value of its workforce, transit access and deep network of anchor institutions. Capturing that upside is far more complicated, according to panelists who explained why and how developers, investors and other stakeholders are making deals work in the city.

Top News
ON3: Prism continues update of on-site utility plant with substantial support from PSE&G

Prism Capital Partners is making another key infrastructure upgrade at ON3, its sprawling mixed-use campus in Clifton and Nutley, with a major assist from PSE&G.

Retail
Goldstein Group inks sale of Paramus retail property home to Starbucks

A local investor has sold the site of a drive-thru Starbucks location on Route 17 in Paramus, in a recently completed deal by The Goldstein Group.

Health Care & Education
C&W: Longtime owner sells Westwood medical office building for $4.4 million

A private investor has acquired more than 33,000 square feet of medical office space in Westwood, in a nearly $4.4 million deal arranged by Cushman & Wakefield.

Retail
Rockaway strip center fully leased after deal with Mexican restaurant, Azarian says

A new restaurant is coming to a mixed-use property on Route 46 in Rockaway Borough, according to a leasing and management team with Azarian Realty Co.