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.

Industrial
Stro touts lease-up of newly added warehouse in Elmwood Park

Three tenants have combined to lease 45,000 square feet at an industrial building in Elmwood Park, The Stro Cos. announced, bringing the recently acquired property to full occupancy.

Residential & Mixed Use
Three-piece AVE portfolio hits the market for sale, recap

The owner of three AVE properties in New Jersey and Pennsylvania is seeking new investors or buyers, brokers with HFF said, touting a value-add opportunity with more than 800 units.

Finance & Capital Markets
Developer secures LIHTC financing for 84-unit Newark project, Day Pitney says

A developer is tapping into the federal Low Income Housing Tax Credit program as part of a planned 84-unit, mixed-income rental project in Newark, in one of several recent transactions announced by Day Pitney LLP.

Residential & Mixed Use
NJPAC, city leaders hail One Theater Square’s opening in downtown Newark

Stakeholders gathered Wednesday to mark the opening of a new 22-story residential tower in downtown Newark, the city’s first ground-up luxury high-rise in more than 50 years and the first tangible piece of a plan to develop the property around the New Jersey Performing Arts Center.

Residential & Mixed Use
Developers tout completion of 227-unit Aberdeen complex (SLIDESHOW)

BNE Real Estate Group and Highview Homes have completed their redevelopment of a site at the Aberdeen-Matawan train station, unveiling the final building in a 227-unit luxury rental community.

Residential & Mixed Use
Mill Creek opens new regional office in Jersey City

Mill Creek Residential has opened a new regional office in Jersey City, where it plans to support its continued growth in New Jersey and New York.

Residential & Mixed Use
HFF: Joint venture sells 240-unit rental property in Lawrenceville

An investment group has acquired a 240-unit apartment community in Lawrenceville, in a transaction arranged by brokers with HFF.

Government & Public Policy
Brownfields, historic tax credits in focus as Murphy addresses housing conference

New Jersey has “everything we need for our future success,” Gov. Phil Murphy said Tuesday, as he highlighted new proposals for tax credits tied to brownfield cleanups, historic rehabilitations and other policies meant to spur new affordable housing and economic growth.

Office
Pharma contractor takes 45,500 sq. ft. in Cranbury

A pharmaceutical supply services firms has leased more than 45,000 square feet of lab and research and development space in Cranbury, brokers with Cushman & Wakefield said Tuesday.

Residential & Mixed Use
Extell launches leasing at new 151-unit Barnegat project

A developer has unveiled 151 age-restricted apartments at a mixed-use project in Barnegat, where it has also begun to welcome new retailers.