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 gains full approvals, expects to begin Morristown office project

Prism Capital Partners is set to begin construction on a plan to modernize and add two stories to an office building in downtown Morristown, bringing a much-needed infusion of high-end space.

Residential & Mixed Use
Plainfield rental portfolio sells for $6.4 million, Gebroe-Hammer says

An investor has sold a four-building, 58-unit apartment portfolio in Plainfield for $6.4 million, some two years after acquiring the properties.

Professional Services
Real estate investor joins Newmark as sales associate

Newmark Associates has hired a longtime real estate investor as one of the newest members of its sales team.

Industrial
Bridge goes to Brooklyn for latest industrial deal

Bridge Development Partners’ highly successful team in New Jersey is heading to Brooklyn, as part of a joint venture that is buying a site with plans to build more than 1.5 million square feet of new industrial space.

Government & Public Policy
Saxum announces new $100 million fund for Opportunity Zones

Development and investment firm Saxum Real Estate has launched a $100 million fund dedicated to projects in newly created federal Opportunity Zones, as it prepares for the program’s highly anticipated rollout later this year.

Office
Morristown office building sold for $5 million

A nonprofit has reaped $5 million from the sale of its 20,000-square-foot office building in downtown Morristown.

Professional Services
LAN touts school construction, renovation work in Woodbridge

A design team from LAN Associates was on hand recently to break ground on $50 million worth of construction in Woodbridge, including a new elementary school and a sweeping renovation of an existing middle school.

Government & Public Policy
Flood wall decision looms large for Hoboken rail yards project

State officials could soon make a decision on key flood protection measures in Hoboken — one that could make or break a long-awaited, 2.3 million-square-foot redevelopment of the rail yards at the southern edge of the city.

Residential & Mixed Use
Investors pay $17.7 million for 37-unit Hoboken building

An investment group has made its first foray into Hoboken, acquiring a 37-unit uptown apartment building from a longtime family owner.

Residential & Mixed Use
Developer, public officials hail new affordable housing in Newark

A developer joined local and state officials on Wednesday to break ground on a 60-unit affordable housing project in Newark’s North Ward, where plans call for redeveloping the former site of a Boys & Girls Club.