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
Newmark: Red Bank’s River Centre more than 90 percent full after 48,000 sq. ft. in new leases

A joint venture has filled nearly 48,000 square feet at a well-known office campus in Red Bank, securing four new tenants in a series of deals arranged by Newmark.

Industrial
Kurv acquires four-building, 256,000 sq. ft. industrial portfolio in Carlstadt, East Rutherford

Kurv Industrial has expanded its holdings in the Meadowlands with its purchase of a four-building portfolio comprising more than 256,000 square feet of warehouse space.

Office
Buyer wanted for new-look 167,000 sq. ft. office park outside Princeton, JLL says

The owner of a nearly 167,000-square-foot office park in Lawrence Township has listed it for sale, following a major update that has sparked renewed tenant activity at the campus.

Retail
LMC: Sprouts Farmers Market takes 29,000 sq. ft. in key lease at Somerset Shopping Center

A retail center in Bridgewater has scored its first-ever grocery anchor after signing a lease with Sprouts Farmers Market, in a newly announced deal by Levin Management Corp.

Professional Services
Remediation expert Huss joins GZA’s Fairfield team as associate principal, vice president

GZA GeoEnvironmental Inc. has named Edward J. Huss as an associate principal and vice president, further bolstering its environmental assessment and remediation group in the region.

Retail
Korean spa eyes first location with new lease at Livingston Town Center, Azarian says

A new spa concept is coming to Livingston Town Center after leasing one of the property’s few remaining spaces, according to a brokerage team with Azarian Realty Co.

Government & Public Policy
Sentiment shift: Encouraged by new Sherrill administration, NJBA sees clearer path to expanded housing production, affordability

A new governor has brought fresh optimism to the New Jersey Builders Association, which points to the Sherrill administration’s focus on affordability and government efficiency as a key step toward expanding the housing stock and lowering costs for residents.

Residential & Mixed Use
Downeaster, TANTUM break ground on 78-unit rental project in downtown Long Branch

A new 78-unit luxury apartment building will soon rise in downtown Long Branch, in a project that will transform a key stretch of the corridor leading to its booming coastline.

Health Care
Medical office demand strong as Accordia leases 21,000 sq. ft. across three properties

Accordia has completed a series of medical office leases in New Jersey, touting strong demand from health care users seeking space in top-tier buildings.

Industrial
Zimmel: Eight-building, 147,000 sq. ft. commercial portfolio in Clark changes hands

An investment group has acquired some 147,000 square feet of commercial space in Clark, seeking to reposition an eight-building portfolio that was anchored by L’Oréal.