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.

Professional Services
Eastern Union announces new chief sales, operating officer

Eastern Union Funding has named a new chief sales and operating officer, tapping a 25-year veteran of the lending and investment sales sector to fill the position.

Professional Services
With decades of history, a close-knit team has guided Blau & Berg’s continued growth

The Blau & Berg Co. has more than doubled the size of its sales team over the past five years alongside a major increase in revenue — growth that has been guided largely by its family roots and a feeling of shared responsibility.

Office
JLL: Two submarkets lead the way in Q3 office rebound

Two northern New Jersey submarkets accounted for more than 90 percent of the absorption in the region’s office market during the third quarter, according to JLL, leading a comeback after a lackluster start to the year.

Retail
Lidl acquires shuttered Acme site in Bergen County, Ripco says

International supermarket chain Lidl has purchased a former Acme store in Bergenfield, providing the operator with an expansion opportunity in northern New Jersey.

Professional Services
CSG adds new member in real estate lending practice

Chiesa Shahinian & Giantomasi PC, the West Orange-based law firm, has expanded its commercial real estate lending team in the region with one of its newest hires.

People
Saxum adds controller to growing team

Saxum Real Estate has added to its team with the hiring of a new controller.

Residential & Mixed Use
Bijou: Sales underway at new eco-built condos in Hoboken

Bijou Properties has launched sales at a new sustainably built, seven-story condominium building in Hoboken that it says is a first of its kind in New Jersey.

Government & Public Policy
Remediation is now everyone’s business

Throughout the state, New Jersey is cleaning contaminated sites and turning them into productive, attractive new uses that are safe for the population and the environment. The state’s LSRPs are proud to be part of this success.

Trend Watch
Big-box demand struggles with limited supply

The proliferation of e-commerce spiked leasing velocity in 2016 and 2017 due to significant demand for big-box and mega-box spaces.
Limited supply of big-box space across the state has stalled leasing velocity for YTD 2018.
There are only five (5) availabilities in excess of 500,000 square feet in the state.
Tenants have expanded the geographic scope of requirements into Southern New Jersey and Lehigh Valley to accommodate immediate needs.

Top News
Remembering Jay Kislak, a real estate icon known equally for giving, exploring

Jay I. Kislak, an iconic figure in real estate and philanthropy, whose giving helped further education and culture in New Jersey and elsewhere, died Wednesday at his home in Miami. He was 96.