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
Mack-Cali inks $488 million sale of 3.1 million sq. ft. flex portfolio

Mack-Cali Realty Corp. has agreed to sell a 56-building, 3.1 million-square-foot office and flex portfolio for nearly $490 million, which it will use to pay down debt and fund its purchase of a Jersey City apartment building.

Retail
Mavis Tire opens in Howell, Goldstein Group says

A new Mavis Discount Tires location has opened its doors in Howell, following a 6,000-square-foot lease arranged by The Goldstein Group.

Office
How ‘agile real estate’ can help leasing, property values

Major tenants and occupiers are now taking a closer look at agile real estate offering nimble, dynamic layouts in which employees can float from one type of a work area to another or move seamlessly between office locations. That means developers and landlords should be following suit if they plan on staying competitive in a quickly changing office sector.

Residential & Mixed Use
Weehawken rental project hits leasing milestone after one month

A joint venture is off to a fast start at a new 236-unit luxury rental property in Weehawken, having leased nearly 60 apartments in only a month.

Office
Law firm takes 9,100 sq. ft. in Cherry Hill

A law firm is relocating to a new space in Cherry Hill as part of a recently announced, 9,117-square-foot lease by Rose Commercial Real Estate.

Office
WCRE: Service organization inks 7,500 sq. ft. lease in Burlington

A faith-based service organization has taken 7,500 square feet of office space in Burlington, under a newly completed transaction by Wolf Commercial Real Estate.

Office
Bank acquires Fort Lee building, eyes expansion with EDA incentive

A Fort Lee-based bank is eyeing a major expansion in the borough, having acquired a 70,000-square-foot office building with plans to hire 250 new employees in the coming years.

Office
Mack-Cali closes on 272,000 sq. ft. office tower in Metropark, C&W says

Mack-Cali Realty Corp. has completed its acquisition of a nearly 272,000-square-foot office building in Woodbridge, adding to its holdings in the Metropark submarket.

Government & Public Policy
Developer, finance firm eye Opportunity Zone projects in Central Jersey

A developer has teamed with a New York-based finance firm to launch a new Opportunity Zone fund platform, with a focus on mixed-use projects in central New Jersey.

Residential & Mixed Use
Woodmont launches senior housing division, taps industry veteran

Woodmont Properties has hired a veteran industry executive to lead its newly formed senior housing division, touting an opportunity in the niche residential sector.