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
Denholtz: Clark commercial complex fully leased after latest deal

Denholtz Associates has inked a 10,050-square-foot lease at a commercial complex in Clark, bringing the 283,000-square-foot campus to full occupancy.

Residential & Mixed Use
Developer breaks ground on 276 apartments in Somerset County

Construction is underway on a new 276-unit apartment complex in Raritan Borough, where a developer hopes to seize on a location just steps from a commuter train station.

Professional Services
CBRE’s Hipschman takes on expanded role in Northeast industrial

CBRE has announced an expanded role for its market leader in New Jersey, in an effort to expand the firm’s focus in the region’s industrial and logistics sector.

Residential & Mixed Use
NAI Hanson brokers sale of Paterson condo building, development site

A real estate investment firm has acquired a 48-unit condominium building in downtown Paterson, along with a nearby development site that is approved for 195 rental units.

Residential & Mixed Use
Gebroe-Hammer inks sale of 189 apartments in Plainfield, Elizabeth

Four apartment properties in Union County have changed hands for a combined $22.7 million, following a set of transactions announced by Gebroe-Hammer Associates.

Office
Denholtz touts 28,000 sq. ft. in new leases, renewals in Matawan

A steel exporter has renewed for nearly 11,000 square feet at a Matawan office building, one of seven transactions announced Tuesday by Denholtz Associates.

Residential & Mixed Use
Reinvention of historic Edison complex nearly complete, as first residents move in

The long-awaited project known as Edison Village is nearing completion and already welcoming residents to its first phase: a new three-story, 34-unit building known as Edison Mews. In the coming months, Prism expects to deliver another 300 apartments when it completes its renovation and reconstruction of the 100-year-old factory complex on Main Street.

Government & Public Policy
EDA: Teva Pharmaceuticals weighing 345,000 sq. ft. in Parsippany

The state has approved a 10-year, $40 million tax credit package to encourage Teva Pharmaceuticals to move its U.S. headquarters from Pennsylvania to Parsippany, where it would lease more than 345,000 square feet to house more than 1,000 employees.

Government & Public Policy
State OKs incentive for E-Trade expansion in Jersey City

E-Trade Financial Corp. could be in line to expand its footprint on the Jersey City waterfront, following the approval Tuesday of a 10-year, $20.1 million tax credit package by the state Economic Development Authority.

Office
Higher and better: Developers making strides in repurposing New Jersey’s vacant, outdated office buildings

Slowly but surely, developers have begun to chip away at one of New Jersey’s most chronic issues when it comes to commercial real estate — the abundance of obsolete, aging office buildings that are no longer considered usable by modern standards.