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.

People
Veteran estimator joins Hollister executive team

By Joshua Burd Hollister Construction Services has hired an industry veteran to lead its estimating team. In a news release Thursday, the firm announced the addition of Bruce Schlesier as vice president of estimating. In the new role, Hollister said…

Retail
LMC: Recruiting center takes 3,900 sq. ft. in North Plainfield

The U.S. government has leased 3,900 square feet for an Armed Forces Recruiting Office in North Plainfield, under a newly announced deal by Levin Management Corp.

Residential & Mixed Use
Newark housing complexes slated for $170 million rehab

An investment group has set out to revitalize two public housing complexes in Newark that city officials say are nearly uninhabitable, with plans to spend more than $170 million on the project and the full financial backing of the state.

Office
Garibaldi touts new leases in Chatham, Jersey City

A global market research company has leased more than 4,000 square feet in downtown Chatham, in one of four recent deals announced by The Garibaldi Group.

Government & Public Policy
NJBA to recognize key players in homebuilding at annual PAC event

The New Jersey Builders Association will honor six of the state’s most influential homebuilders tonight, when industry leaders gather for an annual fundraiser for the organization’s political action committee.

Office
Blau & Berg: Tenants ink 23,000 sq. ft. at Short Hills office building

The Blau & Berg Co. is touting strong activity at a Short Hills office building, where it completed five leases for nearly 23,000 square feet during the second quarter.

Professional Services
WCRE hires two new brokers, marketing professional

Wolf Commercial Real Estate has announced three new hires, including two brokers and a marketing coordinator.

Industrial
New Jersey industrial brokers, developers thinking regionally as tenants expand the market

With a limited supply and an increasingly savvy approach to logistics, tenants are pushing the historical boundaries of the New Jersey industrial market and expanding not only westward, but to the southernmost parts of the state and to the east to New York City. As occupiers explore these new frontiers, developers and brokers in New Jersey are following suit with a more regional approach to the warehouse and distribution sector.

Office
Saddle Brook office complex sold for $115 million

A well-known office complex in Saddle Brook has changed hands for more than $115 million, following a sweeping set of upgrades that helped raise occupancy over more than three years.

Government & Public Policy
NAIOP unveils honorees for annual N.J. awards, hall of fame dinner

NAIOP New Jersey will honor one of the state’s key government officials in recent years alongside one of its best-known developers as part of its upcoming fall awards dinner, where the association will also recognize several influential industry professionals.