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
Paterson retail center trades for $4 million, Marcus says

A private investor has sold a nearly 27,000-square-foot shopping center in Paterson for $4 million, in a transaction arranged by Marcus & Millichap.

Residential & Mixed Use
Investor appetite for apartments still strong in New Jersey, brokers say

Despite rising interest rates, investor demand for multifamily property in New Jersey shows few signs of slowing down through the end of the year and into 2019.

Top News
DEP plans new and improved online permitting system, commissioner tells NAIOP

The Department of Environmental Protection is taking a page out of the TurboTax playbook — at least when it comes to permitting for land use and other areas — with plans to roll out a new electronic submission system for more than 100 permit activities in its ongoing effort to streamline New Jersey’s regulatory structure.

Retail
JLL: Newark hotel inks leases with seafood eatery, recruiting center

A local seafood restaurant and a U.S. Army recruiting center will be among the newest retail tenants at a hotel next to the Prudential Center in Newark, according to JLL.

Office
C&W named leasing agent for Bloomfield office park

Brokers with Cushman & Wakefield have taken over leasing at a four-building, 393,000-square-foot office campus in Bloomfield.

Industrial
Team Resources touts new deals in Newark, Jersey City

Team Resources Inc. has completed a 10,050-square-foot industrial lease in Newark, one of two new transactions announced by the Lyndhurst-based firm.

Retail
Retail, residential building in Readington sells for $3.9 million

A private investor has sold a nearly 29,000-square-foot mixed-use property in the Whitehouse Station section of Readington, in a $3.9 million deal brokered by Marcus & Millichap.

Industrial
Tax credit fuels 492,000 sq. ft. lease with Prologis, online consignment shop

Prologis and an online luxury consignment shop have signed a lease for more than 490,000 square feet in Perth Amboy, following the approval of a 10-year, $38.9 million tax credit package to help the retailer establish a new Northeast fulfillment center.

Roundtable
Which types of tenants or industries hold the greatest upside for New Jersey’s office market?

Which types of tenants or industries hold the greatest upside for New Jersey’s office market? We assembled a panel of industry experts to tackle this month’s question.

Hospitality & Tourism
N.J. Hall of Fame finds permanent home at American Dream

The nonprofit New Jersey Hall of Fame has found a permanent home at what will become the sprawling American Dream retail and entertainment complex in East Rutherford.