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
AY: With upgrades in sight, Ramsey office building attracts five new tenants

Five tenants have leased a combined 11,600 square feet at a Ramsey office building once anchored by UPS, whose new owner is now upgrading the 139,000-square-foot property.

Office
NAI Hanson brokers sale of Ridgewood medical office building

A cardiology practice is now an owner and occupier of a 9,242-square-foot medical office building in Ridgewood, following a sale arranged by NAI James E. Hanson.

Government & Public Policy
Led by Willoughby, Business Action Center lends its support to developers, tenants

The state’s Business Action Center has long billed itself as a one-stop shop for helping companies grow in New Jersey and attracting new ones from out of state. That often means finding solutions for commercial real estate needs, from helping a scientist find lab space to assisting Amazon with its ever-growing network of fulfillment centers. It also means helping developers and their professionals navigate the web of state agencies that are involved in real estate decisions, from NJ Transit to the Department of Environmental Protection.

Government & Public Policy
Solving the parking problem: Goldberg sees a role for the state in urban redevelopment

To Carl Goldberg, the need for moderately priced, workforce housing continues to grow in New Jersey, but the cost of structured parking can be a significant hurdle. It’s why he sees an opportunity for the state to help local officials solve that equation.

Industrial
C&W named leasing agent at massive former Toys R Us complex in Mount Olive

The owners of a 1.43 million-square-foot industrial complex in Mount Olive, a former Toys R Us distribution center, have tapped Cushman & Wakefield as its leasing agent.

Residential & Mixed Use
Hackensack apartment buildings sell for $11.5 million, Kislak says

A private investor has sold a two-building, 78-unit apartment portfolio in Hackensack for $11.5 million, in a transaction arranged by The Kislak Co. Inc.

Industrial
NAI Hanson: E-commerce user takes 46,000 sq. ft. in Newark

An e-commerce company has leased more than 46,000 square feet at a Newark industrial building, brokers with NAI James E. Hanson announced this week.

Residential & Mixed Use
Russo starts construction at mixed-use project near Garwood train station

Russo Development has nearly completed demolition of a large industrial complex in Garwood, allowing it to begin construction at a new mixed-use project with nearly 370 apartments.

Office
JLL inks $33.5 million sale of Somerset office park

A three-building, 679,000-square-foot office park in Somerset County has changed hands for $33.5 million, following a sale arranged by JLL.

Residential & Mixed Use
Harrison development site fetches $14.5 million, CBRE says

An industrial user has sold a former warehouse site and a vacant lot in Harrison, paving the way for another addition to the town’s waterfront redevelopment area.