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.

Office
Jersey Shore office building sold for $8.6 million

Investors have paid $8.6 million to acquire a nearly 50,000-square-foot office building in Monmouth County, according to executives with CBRE and Weiss Realty Inc.

Government & Public Policy
Leadership lessons in a rapidly changing world

NAIOP’s premier industry event this fall was CRE.Converge 2017 in Chicago, which attracted nearly 1,500 attendees from across North America. Held Oct. 10 to 12, the conference provided valuable insights into cutting-edge trends in the commercial real estate industry and projections for the future.

Trend Watch
Trend Watch Dec. 4: New office buildings boast 12% vacancy rate

The year of construction for buildings has significant impact on reported vacancy rate. Buildings completed since 2010 maintained the lowest vacancy rates, as office occupiers prefer new product. Demand for new construction will drive the demolition/rehabilitation of older, vacant office buildings, especially in strategically located markets lacking sites for new construction.

Residential & Mixed Use
Camden County apartment complex sold for $79 million

Multifamily investment firm Morgan Properties has acquired a four-building, 1,030-unit apartment complex in Collingswood for $79 million.

Professional Services
Avison Young expands N.J. retail practice with hire of veteran broker

Real estate services firm Avison Young has hired a 25-year industry veteran as its new vice president of retail brokerage in New Jersey.

Retail
Woodbridge landlord inks 38,000 sq. ft. deal with fitness chain

A national fitness chain has leased 38,000 square feet at a newly repositioned retail center in Woodbridge, according to landlord JJ Operating Inc.

Residential & Mixed Use
East Orange property owners group names new president, secretary

Two multifamily investors in East Orange have been named to new roles with an industry group made up of fellow property owners in the city.

Residential & Mixed Use
IN THE MOMENT: Fields marks opening of new Jersey City apartments

Fields Development Group has opened the doors to its new 255-unit luxury apartment project in Jersey City’s Paulus Hook neighborhood.

Retail
Advance, DeBartolo start demolition of Morris County mall ahead of redevelopment (VIDEO)

Advance Realty and DeBartolo Development have started demolition at the aging, indoor retail complex along Route 10 in Roxbury, paving the way for a sweeping redevelopment of the property. When complete, the site will be home to a modern, 450,000-square foot power center with a mix of open-air spaces.

Residential & Mixed Use
Gebroe-Hammer touts sale of 150 units in Essex County

Four apartment properties in Essex County have changed hands for a combined $18.35 million, following a series of transactions brokered by Gebroe-Hammer Associates.