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.

Retail
Walmart ground lease in Teterboro sells for $37 million

A developer has reaped more than $37 million from the sale of a Walmart ground lease within a sprawling retail and light industrial complex in Teterboro, its broker announced Tuesday.

Professional Services
Avison Young hires new associate in capital markets, hospitality

Avison Young has added to its New Jersey brokerage team with the hiring of a new associate.

Residential & Mixed Use
CBRE brokers sale of two mixed-use properties in Manville

Two mixed-use residential properties in Manville have changed hands for a combined $880,000, in a transaction arranged by brokers with CBRE.

Professional Services
Dresdner Robin details food distributor expansion project in Hunts Point

A design and engineering team based in Jersey City has completed its work on a $25 million, 110,000-square-foot expansion of a food company’s facility in the South Bronx.

Retail
CBRE: ‘Poké’ concept coming to New Jersey, inks lease at Garden State Plaza

A fast casual chain offering what are known as poké bowls and burritos — a Hawaiian-inspired concept focused on fresh fish — is making its debut in New Jersey with a new location at the Westfield Garden State Plaza in Paramus.

Professional Services
Pierson announces promotion for retail broker

Pierson Commercial has promoted one of its brokers to the position of director.

Government & Public Policy
Booker urges ‘savvy investors,’ public officials to partner in Opportunity Zones

The new federal Opportunity Zone program is far from perfect in its early stages, U.S. Sen. Cory Booker told a crowd of New Jersey real estate leaders on Monday, but it offers a powerful new incentive for the private and public sectors to steer economic development to low-income areas.

Industrial
Hampshire, Circle Squared unveil new self-storage project in Millburn

The Hampshire Cos. has debuted the latest piece of its ever-growing self-storage pipeline — unveiling a 104,260-square-foot facility in Millburn alongside Circle Squared Alternative Investments and other members of the project team.

Residential & Mixed Use
Developer touts 131-unit project underway in Jersey City

An Ohio-based developer has announced its entrance to Jersey City, detailing a 131-unit project underway in a neighborhood just south of Hoboken and west of the Holland Tunnel.

Office
Hackensack office building inks four leases with law firms

Four law firms have signed leases at a 225,000-square-foot office building just minutes from the Bergen County Courthouse in Hackensack.