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.

Residential & Mixed Use

Inspired breaks ground on new luxury condos along Asbury Park coastline

Construction is underway on a project that will bring 112 condominiums to Asbury Park as one of the newest infusions of high-end housing along the city’s iconic shoreline.

Retail

Rivani sells 168,000 sq. ft. net-leased retail portfolio in Mount Olive for $28 million

Investment firm Rivani has sold a nearly 168,000-square-foot portfolio of net-leased retail properties in Mount Olive for $27.9 million, according to brokers with JLL.

Finance & Capital Markets

CBRE: Investor snags $36 million permanent loan after buying new Belleville rental property

The new owner of a 158-unit luxury apartment building in Belleville has closed on $35.5 million in permanent financing for the asset, brokers with CBRE announced Monday.

Office

Cybersecurity firm takes 12,000 sq. ft. at SJP’s Waterfront Corporate Center in Hoboken

A cybersecurity firm is coming to SJP Properties’ Waterfront Corporate Center in Hoboken, having leased more than 12,000 square feet in a deal arranged by Cushman & Wakefield.

Residential & Mixed Use

Kislak: Renovated 10-unit rental property in Asbury Park fetches $2.3 million

A private investor has purchased a 10-unit apartment building in Asbury Park for $2.3 million, brokers with The Kislak Co. Inc. announced Monday.

Industrial

Eden Wood, event rentals company ink 32,000 sq. ft. industrial lease in Jersey City, BRC says

An event rental company has taken nearly 32,000 square feet at a Jersey City industrial building, in a newly announced deal by Bussel Realty Corp.

Cover Story

Culture campus: Newark Museum update marks latest milestone as $100 million mixed-use project takes shape around it

New Jersey’s oldest museum has undergone a significant upgrade, solidifying its commitment to serve as a dynamic cultural hub for the region and beyond. It also is considered the cornerstone of the $100 million, blended-use project that’s poised to link two downtown neighborhoods.

Editor’s Note

Building momentum

The Museum Parc project is now taking shape around The Newark Museum of Art, as you’ll read in this month’s cover story, as a development team constructs two new buildings with a combined 250 mixed-income apartments, ground-floor retail and additional cultural spaces such as a vibrant, glass-enclosed gallery. The construction along Central Avenue is now about 50 percent complete, as anticipation builds for full delivery in early 2027.

Joe Morris, big-box developer and giant of New Jersey commercial real estate, dies at age 81

Joe Morris, the co-founder of the Morris Cos. who was known for his commanding presence and leadership in New Jersey’s commercial real estate sector, died last week. He was 81.

Office

JLL tapped to sell 230,000 sq. ft. Bedminster campus fully leased to AT&T

The two-building, 230,000-square-foot office campus in Bedminster that serves as a key corporate hub for AT&T is on the market for sale, according to brokers with JLL.