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.

Retail
Planning board OKs plan for Monmouth Mall makeover

Kushner Cos. and Brookfield Properties have cleared a key hurdle in their plan to transform the Monmouth Mall, winning a long-awaited approval from the Eatontown planning board.

Professional Services
McCarter touts new pro bono focus for Newark residents facing eviction

McCarter & English has launched a new initiative to provide pro bono legal representation to Newark residents who are facing eviction proceedings by their landlords.

Residential & Mixed Use
Kislak brokers $3.7 million sale of Teaneck apartments

An apartment owner has reaped nearly $3.7 million from the sale of a 25-unit complex in Teaneck, following a transaction brokered by The Kislak Co. Inc.

Residential & Mixed Use
Union City apartment building sells for $3 million, Marcus says

The developer of a recently built, 12-unit apartment building in Union City has sold the property for more than $3 million, according to brokers with Marcus & Millichap.

Office
Roofing firm inks 5,000 sq. ft. lease in Elmwood Park, NAI Hanson says

A roofing business has leased nearly 5,000 square feet at an office building in Elmwood Park, brokers with NAI James E. Hanson said.

Residential & Mixed Use
Façade nearly complete at new Hoboken condo building

Bijou Properties is putting the finishing touches on the exterior of VIA Lofts, a new 10-unit luxury condominium project in the northwest section of Hoboken.

Residential & Mixed Use
Developers break ground on 219-unit apartment project in Rahway

AST Development Corp. and Sterling Properties are partnering on another project in Rahway, where they’ve started construction on more than 200 new luxury apartments.

Retail
Experts: Supreme Court’s ‘Wayfair’ ruling will have broader impact on taxes than real estate

A recent ruling by the U.S. Supreme Court will likely raise the cost of some online sales and provide an infusion of revenue for New Jersey’s state coffers, but its impact on commercial real estate may be limited.

Industrial
NAI Hanson: E-commerce firm takes 40,000 sq. ft. in Meadowlands

An e-commerce company is moving within Bergen County to a newly renovated, 40,000-square-foot building in Carlstadt, brokers with NAI James E. Hanson announced.

Finance & Capital Markets
HFF brokers $29 million loan for Research Triangle project

A developer has secured nearly $29 million in financing for a project in North Carolina’s Research Triangle, in a transaction led by brokers from HFF’s New Jersey office.