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.

Cover Story
Making the pitch: Inside the push to build new red bulls training center in morris township — and transform a stranded office campus

How do you turn a former office campus into an 80-acre Major League Soccer athletic training center with eight pitches, a gym and a hydrotherapy pool? With years of planning and input from the neighbors.

Government & Public Policy
Data centers: Sherrill eyes plan to manage energy costs, community concerns while promoting AI growth

Gov. Mikie Sherrill is taking steps to manage the impact of new data center development in New Jersey, announcing a plan to establish guardrails while still allowing the state to benefit from innovations in artificial intelligence.

Residential & Mixed Use
Veris Residential goes private after $3.5 billion acquisition by Affinius, Vista Hill consortium

Investors have closed on their $3.5 billion acquisition of Veris Residential Inc., bringing the company private after its multiyear overhaul of a once-sprawling portfolio.

People
Mansbach joins G.S. Wilcox as vice president focused on debt and equity financing

G.S. Wilcox & Co. is growing its team with the addition of Ryan Mansbach as a vice president, the commercial real estate mortgage banking firm announced this week.

Office
Single-tenant, 30,000 sq. ft. office building in Parsippany fetches $5 million, Newmark says

A long-term investor has acquired a nearly 30,000-square-foot office building in Parsippany, paying $5 million for the property in a deal arranged by Newmark Associates CRE.

Residential & Mixed Use
Cervelli Real Estate adds to management portfolio with three-property assignment in Jersey City

The longtime owner of three apartment buildings in Jersey City has tapped Cervelli Real Estate & Property Management to help spearhead operations for the portfolio.

Office
NVE launches next phase of upgrades, amenities as 600,000 sq. ft. ‘Arena’ campus takes shape in East Hanover

A new office and innovation campus is taking shape in East Hanover, with sweeping exterior upgrades now complete and additional updates underway as New Vernon Equities breathes new life into a piece of a legacy pharmaceutical campus.

Residential & Mixed Use
Adoni sells 52-unit Franklin Lakes rental property for $29 million, Cushman says

Adoni Property Group has sold a 52-unit luxury apartment building in Franklin Lakes for $29 million, in a newly announced deal by Cushman & Wakefield.

Residential & Mixed Use
ICON: Jebara sells 46-unit Long Branch rental building, retail space for $19.4 million

A developer has sold a new 46-unit apartment building and an adjacent retail asset in Long Branch, according to a listing team with ICON Real Estate Advisors.

Retail
Marcus: West New York retail, office property sells for $9.5 million in first-ever trade of 38-year-old center

The longtime owner of a more than 27,000-square-foot commercial property in West New York has sold the asset for $9.5 million, brokers with Marcus & Millichap said Tuesday.