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.

Office
Renovated 98,000 sq. ft. office building in Parsippany on the market for sale, JLL says

The owner of a nearly 100,000-square-foot office building in Parsippany is seeking a buyer for the property, where brokers are touting strong leasing momentum after a recent update.

Office
Camden officials tease plan for new 500,000 sq. ft. office tower at downtown transit hub

Public officials in Camden have unveiled plans for a new tower that would bring more than 500,000 square feet of office space to the downtown, part of a high-profile plan to revitalize the city’s Walter Rand Transportation Center.

Health Care
Petrucci: Construction underway on newest Aurobindo Pharma facility in East Windsor

J.G. Petrucci Co. Inc. has broken ground in East Windsor on a new facility for Aurobindo Pharma USA Inc., in what will be the latest piece of the drugmaker’s campus in the township.

Retail
Marcus inks $3 million trade of 21,000 sq. ft. retail center in Matawan

A longtime owner has sold a nearly 21,000-square-foot retail center in Matawan for some $3 million, in a newly announced deal by Marcus & Millichap.

Retail
LMC: Venus Jewelers debuts 5,700 sq. ft. shop, showroom at longtime home in Somerset

A jeweler has nearly doubled its footprint at a shopping center in Franklin Township, where it now occupies 5,700 square feet after a deal arranged by Levin Management Corp.

Retail
Allendale retail center fully leased after 3,200 sq. ft. deal with fitness studio, Azarian says

A new fitness studio has taken more than 3,200 square feet at the grocery-anchored Allendale Town Center in Bergen County, according to a leasing team with Azarian Realty Co.

Policy Page
Optimism for CRE in the new year

Overhauling the Energy Master Plan is an opportunity for impacted stakeholders, like you, to help improve what is currently an unrealistic policy document that has done little to accelerate achieving its lofty goals. Perhaps most striking about the current EMP is it lacks an unbiased estimate of what it’ll cost ratepayers, including commercial real estate owners and tenants. Gov. Phil Murphy acknowledged this glaring omission when he announced the 2024 EMP will “seek to better capture economic costs and benefits, as well as ratepayer impacts.”

Retail
C&W: Onyx sells 17,000 sq. ft. Ridgewood retail property for $5.7 million

Onyx Equities has sold a nearly 17,000-square-foot retail building in downtown Ridgewood for $5.65 million, brokers with Cushman & Wakefield announced Monday.

Office
LPC inks 53,000 sq. ft. in new deals, renewals at new-look Parsippany office building

A renovated office building in Parsippany is nearly full after some 53,000 square feet of new leases and renewals secured by Lincoln Property Co.

Industrial
Cabinet business takes 13,000 sq. ft. in Piscataway industrial deal, BRC says

A cabinet company has leased nearly 13,000 square feet at a Piscataway industrial building, in a newly announced deal by Bussel Realty Corp.