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.

Government & Public Policy
EDA: Online marketplace for dog breeders, owners considers Jersey City call center

An online marketplace for dog breeders and owners is weighing plans for a new call center in Jersey City, having won approval for a 10-year, $4 million state tax credit incentive.

Industrial
Vehicle shipping firm to operate Tesla warehouse in Kenilworth, Blau & Berg says

A property in Kenilworth will serve as a warehouse and shipping point for Tesla vehicles after a newly completed, 14,100-square-foot lease announced by The Blau & Berg Co.

Industrial
North Jersey industrial properties included in six-state, $183 million portfolio sale

Six industrial properties in northern New Jersey have changed hands as part of a six-state, $183 million portfolio sale announced Tuesday by Mandelbaum Salsburg P.C.

Industrial
Denholtz, meal delivery business ink 19,000 sq. ft. lease in Piscataway

A meal delivery service is the newest tenant at a Piscataway industrial park after agreeing to lease more than 19,000 square feet from Denholtz Associates.

Office
Hackensack medical office building inks new leases with eye care, dental practices

A newly updated medical office building in Hackensack is nearly full after recent transactions with an eye care chain and a growing dental practice.

Government & Public Policy
EDA approves $40 million tax credit to bring nonprofit to Camden

The state has approved a 10-year, $39.6 million tax credit package aimed at luring a Pennsylvania-based nonprofit to Camden, where it would build a new waterfront office building and create nearly 170 jobs not currently in the state.

Residential & Mixed Use
Investment firm has keyed on transit-centric, workforce housing in northern New Jersey

A real estate investment and management firm has quietly built a portfolio of transit-centric, workforce housing properties in northern New Jersey — with local holdings that have grown to some 40 properties with more than 2,000 apartments — and it sees a continued opportunity for expansion in the state and in the region.

Office
C&W: Ricoh takes 56,000 sq. ft. at upgraded Parsippany office building

Electronics and printer products maker Ricoh USA is moving to a revamped office building in Parsippany, under a nearly 56,000-square-foot lease announced by Cushman & Wakefield.

Policy Page
We’ve heard this story before — it’s time for a different ending

Gov. Phil Murphy will give his budget message to the Legislature on Tuesday, March 5. As the voice of the commercial real estate development industry in New Jersey, NAIOP’s attention will be focused on the messaging that emanates from Trenton. Given the headlines over the last several months, we are rightly concerned about the state’s fiscal health and its ability to withstand a recession, which is all but certain by 2020.

Retail
Aldi debuts 21,400 sq. ft. store in Hazlet, Goldstein Group says

A new Aldi supermarket has opened its doors in a revitalized shopping center in Hazlet, following a lease arranged by brokers with The Goldstein Group.