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
Prism: Roadwork, upgrades continue as ON3 prepares for new users

Prism Capital Partners has completed the first phase of major infrastructure improvements at its ON3 campus in Nutley and Clifton, as it continues to ready the site for new tenants and additional construction.

Professional Services
With deep ties to New Jersey’s real estate families, Mandelbaum Salsburg has thrived for decades

Commercial real estate has been a driving force behind Mandelbaum Salsburg P.C., a law firm that has served as a steady hand to many of the state’s prominent multigenerational developers and is a multigenerational business in its own right.

Retail
HFF: ShopRite center, medical office building trade for $16.2 million

A developer has reaped more than $16 million from the sale of a grocery-anchored retail complex and a medical office building in Warren County, brokers with HFF said.

Residential & Mixed Use
Move-ins set to begin at first new housing at Fort Monmouth property

RPM Development is welcoming the first homeowners at the historic Fort Monmouth property, where it has rehabilitated a series of buildings that once served as housing for officers.

Industrial
Lighting, sound equipment firm takes 40,000 sq. ft. in Bayonne

A lighting and sound equipment company is consolidating two locations into a 40,000-square-foot space in Bayonne, following a transaction arranged by Team Resources Inc.

Government & Public Policy
Liquor license reform bill advances in Assembly

A bill that would create new specialized, lower-cost liquor licenses and likely provide a boost to New Jersey’s commercial real estate sector has cleared another hurdle in the Legislature.

Office
Bell Works set to welcome 15 new office tenants

Somerset Development has inked more than a dozen new office leases at Bell Works, the massive mixed-use campus at the former site of the Bell Labs complex in Holmdel.

Industrial
Manalapan flex park trades for $8.6 million

A developer has sold a nine-building, 84,000-square-foot industrial and flex park in Manalapan, in a nearly $8.6 million deal announced by CBRE.

Professional Services
Business veteran joins Goldstein Group brokerage team

The Goldstein Group has made another addition to its sales and leasing team with the hiring of a longtime real estate consultant and business owner.

Retail
NRDC touts four new store openings in New Jersey portfolio

National Realty & Development Corp. has announced several new stores within its New Jersey portfolio that have opened recently or are on track to debut in the months ahead.