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
Englewood warehouse is latest acquisition for Sitex

Sitex Group has acquired a 72,000-square-foot warehouse in Englewood as the latest addition to its northern New Jersey industrial holdings.

Industrial
Startup moving to Kearny Point, leasing 113,000 sq. ft.

A fashion design and supply chain startup is heading to the sprawling Kearny Point development, where it will occupy a new 113,000-square-foot manufacturing facility.

Residential & Mixed Use
Mixed-use Nutley building trades for $1.9 million, Kislak says

A mixed-use residential and retail building in Nutley has changed hands among private investors, in a nearly $2 million sale arranged by The Kislak Co. Inc.

Office
Inside Mack-Cali’s suburban overhaul: REIT unveils office upgrades (SLIDESHOW)

Mack-Cali Realty Corp. has completed a sweeping overhaul of its key suburban office portfolio, following more than $50 million in redesigns and renovations at buildings in the Parsippany, Short Hills, Metropark and Red Bank submarkets.

Residential & Mixed Use
Russo, Dinallo debut loft-style rentals at historic Verona flag factory

Russo Development and Dinallo Construction Corp. have completed their rehabilitation of a onetime flag factory in Verona, delivering 52 new loft-style apartments alongside a newly built, 60-unit sister building next door.

Policy Page
Capital, rising rents and motivated investors lead to favorable CRE outlook

Recent surveys show support for the notion that the fundamentals underpinning commercial real estate will be stronger in 12 months than they are today. This is thanks in part to the belief that rents will rise and the idea that the benefits of the new federal tax law, including the Opportunity Zone program, will bring capital off of the sidelines.

Professional Services
Engineering firm adds two key execs in New Jersey

A Woodcliff Lake-based engineering firm has expanded its leadership team with two new hires.

Residential & Mixed Use
Plainfield multifamily transactions total $17.3 million, Gebroe-Hammer says

Investors have paid a combined $17.3 million for 124 residential units in Plainfield, in series of newly announced transactions by Gebroe-Hammer Associates.

Office
NKF: Office upgrades yielding quantifiable benefits in occupancy, rent growth in New Jersey

Landlords that have renovated and refreshed New Jersey’s aging office stock can now point to the benefits, with a new report showing significantly stronger absorption and rent growth at upgraded buildings.

Office
Quest details plans for 250,000 sq. ft. ‘flagship’ lab project in Clifton

Quest Diagnostics has taken the wraps off its plans at the ON3 campus in Nutley and Clifton, where it will build a 250,000-square-foot flagship laboratory facility that will become the largest in its portfolio.