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.

The Rundown
Emerson council considers vote to allow new mixed-use buildings downtown

A vote by local officials in Emerson could bring a developer one step closer to building a mixed-use project that would transform part of the town’s central business district.

Retail
Supermarket fills void in Irvington shopping center

A new SuperFresh has opened its doors in Irvington in a space once occupied by Pathmark.

Residential & Mixed Use
Circle Squared, Hampshire partner in apartment deal

Two Morristown-based firms are among those involved in the acquisition of a 216-unit apartment complex in Denver, the companies announced Monday.

Residential & Mixed Use
New Metuchen apartment project open for leasing, Woodmont says

Woodmont Properties is officially seeking renters for its newest apartment community.

Office
Garibaldi marketing 310K sq. ft. sublease in Bridgewater

The Garibaldi Group has been tapped to sublease an eight-story, 310,000-square-foot office building in Bridgewater, part of the Class A campus known as Somerset Corporate Center.

Retail
Sanzari inks renewals at Hackensack retail plaza

Four tenants have renewed leases totaling 10,250 square feet at a 100,000-square-foot shopping center in Hackensack, the property’s owner announced Monday.

Health Care & Education
Prism prepares for ‘next chapter’ of iconic Roche campus

An affiliate of Prism Capital Partners has closed on its purchase of the former Hoffman-La Roche campus in Nutley and Clifton, clearing the way for the developer to recreate the 116-acre site with a mix of new commercial tenants, retailers and residential development.

Office
PSEG headquarters tower in Newark sells for $174.5M

A real estate investment trust has sold the Public Service Enterprise Group headquarters tower in Newark for nearly $175 million, according to the seller and brokers involved in the deal.

Office
N.J. office market mounts a comeback in Q3, JLL finds

After a sleepy first half of the year, New Jersey’s office market woke up in the third quarter. And it did so in a big way — thanks to a flurry of high-profile leases that reached the finish line.

The Rundown
Christie, lawmakers reach deal to fund road projects

A bipartisan deal, unveiled Friday at the Statehouse, calls for raising the state’s gas tax for the first time since 1988 to replenish the Transportation Trust Fund. The 23-cent-per-gallon increase will fund a $2 billion TTF plan over the next eight years, with 100 percent of gas tax revenues constitutionally dedicated to repair and replace the state’s roads and bridges.