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
Edison office condo trades for $450,000, BRC says

A physician has sold a nearly 1,900-square-foot office condominium in Edison for $450,000, in a newly announced deal by Bussel Realty Corp.

Retail
Valley Bank opens new Norwood branch after deal brokered by The Goldstein Group, JLL

Valley Bank has opened the doors to a new 2,800-square-foot branch location in northern Bergen County, having leased the space earlier this year.

Current Issue
Owners Council Q&A: Jack Morris

I’ll always be bullish on New Jersey. As with any market, we may need to endure some ups and downs, but our state’s fundamentals give us a high floor and a very high ceiling. Qualities like access to New York City, a highly trained workforce, great medical facilities and care, an array of recreational assets and municipalities that are attractive to families give New Jersey long-term appeal. Also, citizens value safety and security, and I want to give kudos to the incredible law enforcement professionals who serve our communities in New Jersey each and every day.

Retail
Party City going out of business, plans to shutter 700 stores nationwide

Party City is set to close its roughly 700 stores nationwide, including two dozen in its home state of New Jersey, as the struggling retailer prepares to go out of business.

Industrial
Denholtz inks 32,000 sq. ft. lease for first deal at new Texas industrial campus

Denholtz Properties has snagged its first tenant at more than 213,000 square feet of newly built logistics space in Texas, leasing nearly 32,000 square feet to OTC Industrial Technologies.

Industrial
New 1.1 million sq. ft. Sayreville logistics park getting 10.5-megawatt solar project

Rooftop solar panels are coming to a newly built, 1.1 million-square-foot logistics park in Sayreville under an agreement between its developer and a renewable energy firm.

Government & Public Policy
Netflix one step closer to 1.2 million sq. ft. Fort Monmouth hub with $387 million Aspire award

Netflix has taken a major step in its plan to build a 1.1 million-square-foot studio campus at Fort Monmouth, having secured a $387 million tax credit award under New Jersey’s Aspire program.

Retail
Vito Mazza, fixture in downtown Woodbridge, opens new salon at Prism’s Avenue & Green

Prism Capital Partners has welcomed a full-service salon and spa to its Avenue & Green project in Woodbridge, providing a new home for one of the township’s best-known businesses.

Retail
Better Homes and Gardens leases 1,400 sq. ft. at Ringwood retail center, Azarian says

Better Homes and Gardens Real Estate has taken more than 1,400 square feet at a Ringwood retail property, according to a brokerage team with Azarian Realty Co.

Deals
Vantage Commercial inks sale of Woodbury commercial property

A partnership has sold a nearly 900-square-foot commercial building in the Gloucester County city of Woodbury, in a newly announced deal by Vantage Commercial.