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.

People
Longtime Brandywine general counsel joins Duane Morris

Brad A. Molotsky has joined Duane Morris LLP as a partner in its real estate and energy, environment and resources practice groups, the law firm announced.

Finance & Capital Markets
Hampshire, CrownPoint sell Harrison community

The developers of a 104-unit apartment complex in Harrison have sold the property about a year after opening in the growing transit hub community, brokerage firm HFF said Tuesday.

The Rundown
Subaru’s Camden plans in jeopardy amid Pa. tax agreement flap

Subaru of America may scale back its plans to expand in Camden in the wake of Gov. Chris Christie’s recent decision to end tax reciprocity between New Jersey and Pennsylvania.

Office
WCRE: South Jersey office market rights the ship in Q3

Office leasing in southern New Jersey bounced back in a major way in the third quarter, notching a 44 percent increase from the previous quarter in the market’s three core counties.

Retail
Marcus & Millichap brokers 15,000 sq. ft. retail sale in Somerset County

A retail center in Bridgewater has a new owner after a nearly $3.5 million investment sale arranged by Marcus & Millichap, the investment sales brokerage announced Monday.

Office
Maker of bonfire and yule logs leases space with Sanzari in Hasbrouck Heights

A maker of specialty firewood and other outdoor products has leased 3,400 square feet of space at a Hasbrouck Heights office building owned by Alfred Sanzari Enterprises.

Government & Public Policy
McGuinness: TTF breakthrough was ‘No. 1 issue’ for NAIOP N.J.

A long-awaited but contentious solution to the state’s transportation funding crisis is heading to the desk of Gov. Chris Christie, who has agreed to sign the $16 billion infrastructure plan.

Hospitality & Tourism
Trump Taj Mahal becomes latest A.C. casino to close

The Trump Taj Mahal Casino Hotel in Atlantic City was set to close early Monday morning, becoming the fifth gaming hall in the resort town to shut down in less than three years.

Industrial
New 207K sq. ft. industrial complex rising in Carteret

Bridge Development Partners is building a new 206,500-square-foot distribution center project in Carteret, a property that will bring new life to a 10-acre former brownfield site just off the New Jersey Turnpike.
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Finance & Capital Markets
Investors pay $11 million for Piscataway office complex

A private equity group based in Atlanta has acquired two Piscataway office buildings after an $11 million deal orchestrated by Colliers International Group Inc.