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.

Industrial
BRC: Food company moving from Brooklyn, buys Perth Amboy warehouse

A food company has acquired a 62,000-square-foot industrial building in Perth Amboy as part of a plan to relocate from Brooklyn, brokers with Bussel Realty Corp. announced.

Professional Services
NIA National Realty hires new sales associate

NIA National Realty has expanded its brokerage team with one of its newest hires.

Government & Public Policy
EDA seeking applications for grant program for ailing office, retail buildings

The state Economic Development Authority is accepting applications for a new grant program aimed at helping municipalities and counties find solutions for vacant or underused commercial properties within their borders.

Retail
Marcus inks $2 million sale of Wyckoff strip center

A private investor has sold a nearly 10,300-square-foot strip center in Wyckoff for $2 million, brokers with Marcus & Millichap announced Tuesday.

Industrial
Demolition marks another step forward for massive Bayonne logistics park (VIDEO)

Lincoln Equities Group has completed demolition at a 153-acre site in Bayonne, clearing the way for its planned 1.6 million-square-foot warehouse and distribution complex.

Office
Schotz joins Newmark Knight Frank to lead agency services in New Jersey

Jeff Schotz, one of the state’s best-known leasing executives, is returning to brokerage as the new head of Newmark Knight Frank’s agency leasing team in New Jersey.

Residential & Mixed Use
DMR hails debut of Woodbridge community, its latest multifamily design (SLIDESHOW)

DMR Architects is celebrating the first phase of a new 355-unit, four-building luxury rental property in the Iselin section of Woodbridge.

Office
NKF: New Providence office, R&D building trades for $23 million

Mountain Development Corp. has sold a multitenant, 171,216-square-foot office and research building in New Providence, in a deal arranged by Newmark Knight Frank.

Retail
Marcus: Somerville retail, medical building trades for $3.8 million

A two-building, 20,700-square-foot retail and medical office complex in Somerville has changed hands for nearly $3.8 million, brokers with Marcus & Millichap announced.

Events
CREW NJ honors industry leaders at 35th anniversary event

Commercial Real Estate Women of New Jersey celebrated its 35th anniversary last week, drawing top development executives and service professionals to mark the milestone and hail the successes of the industry’s female leaders.