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.

Government & Public Policy
Atlantic City: Developer, city officials sign MOU for $3 billion Bader Field redevelopment

A developer has taken a key step in a bid to transform Atlantic City’s Bader Field, signing a memorandum of understanding with city officials in connection with a nearly $3 billion proposal that includes housing, retail and a racetrack.

Residential & Mixed Use
JMF unveils new 125-unit luxury rental property in Morris Plains

JMF Properties has opened the doors to a collection of 125 upscale apartments in Morris Plains, where renters will be a short walk from the borough’s downtown and train station.

Industrial
Zimmel: New ground-up 55,000 sq. ft. warehouse coming soon to Hillsborough

Adoni Property Group is set to deliver nearly 55,000 square feet of new industrial space in Hillsborough, having tapped Zimmel Associates as its leasing team for the building.

Professional Services
Langan announces three associate-level promotions in Parsippany

Three members of Langan’s Parsippany-based team are among two dozen to be promoted recently by the engineering and environmental services firm.

Retail
Family sells Burlington County strip center for $1.2 million, Rose Commercial says

A local restauranteur has acquired a nearly 14,000-square-foot strip center in the Burlington County township of Tabernacle, in a deal arranged by Rose Commercial Real Estate.

Professional Services
Newmark Associates details three recent sales team hires

Newmark Associates has announced three recent additions to its Morris County-based team of commercial real estate brokers.

Residential & Mixed Use
Hampshire debuts Morristown apartment building with remote work focus, supportive housing (SLIDESHOW)

The Hampshire Cos. has unveiled a new 85-unit luxury apartment building in Morristown, with a design that caters to remote workers and more than a dozen homes reserved for residents with special needs.

Residential & Mixed Use
Hornrock launches leasing at new Hackensack apartment building

Hornrock Properties has taken the wraps off the first piece of what it calls Ivy and Green, a new upscale multifamily development in downtown Hackensack.

Government & Public Policy
DMR details new Community Energy Plan adopted by Prospect Park

The borough of Prospect Park has adopted a new Community Energy Plan, working in tandem with DMR Architects, as it looks to meet the state’s growing list of goals and regulations tied to renewable energy.

Events
From the publisher: Join us June 7 for The Newark Redevelopment Update

Real Estate NJ is going to have a seminar on June 7 at NJIT regarding Newark and its revitalization. Newark means a lot to me. I grew up in Maplewood and took the bus with my friends to downtown Newark to hang out on Broad Street. We would go into Bamberger’s, Hahne’s, S. Klein on the square, etc. After the riots of 1967 Newark changed dramatically and has still not recovered from the stigma of that event. Over the last 15 years I have spent a lot of time in Newark in philanthropic endeavors and have been disappointed that Newark has not made the progress in revitalization that I had hoped it would.