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.

Roundtable
Besides e-commerce, what trends or market forces are impacting retail real estate in New Jersey?

We assembled a panel of industry experts to tackle our recent roundtable question. Here’s what they had to say. Marta Person Villa, senior vice president, JLL (East Rutherford) Retail is being affected by the contraction of department stores and large…

Office
Medical practices highlight new deals at Parsippany office complex

Health care tenants have fueled new leasing activity at a two-building office complex in Parsippany, where brokers are touting more than 25,000 square feet in recent transactions.

Government & Public Policy
EDA earns national acclaim for its role in growing N.J. economy

A national organization has recognized the state Economic Development Authority for its use of incentives and other financing tools to spur growth in New Jersey.

Residential & Mixed Use
Kislak brokers $3 million apartment sale in Point Pleasant

An investor has paid $3 million for 10 apartments in Point Pleasant, in a transaction arranged by The Kislak Co. Inc.

Industrial
CBRE marketing 129,000 sq. ft. industrial building in Middlesex Co.

1 Jake Brown Road in Old Bridge — Courtesy: CBRE
By Joshua Burd
Brokers with CBRE are marketing a nearly 130,000-square-foot warehouse in Old Bridge, in what they say is a rare opportunity to buy an industrial building in Middlesex County.
The firm said the property, located at 1 Jake Brown Road, provides quick access to routes 9, 18 and 440, along with the Garden State Parkway. The 47-year-old building has a new roof, 20,000 square feet of office space and a ceiling height of 18 feet, four inches.
CBRE also touted the site’s access to a strong labor market and to Port Newark-Elizabeth and the New Jersey Turnpike. Other building features include two exterior tailboard doors, 150 spaces for car parking, 30-foot-by-30-foot column spacing and available trailer parking.
The CBRE team marketing the property includes Mindy Lissner, Bill Waxman, Robert Pine and David Gheriani

Trend Watch
Trend Watch Nov. 20: Uptick for Class A office sublease space

For more information, visit JLL Research

Retail
Staying power: As retail changes, Harding sees new opportunities for longtime industry player

Aside from its focus on retail property, Levin Management Corp. executives say change is one of the only other constants in their business. It’s one reason why they feel they’re built to withstand the next set of shifts and challenges to an industry that is evolving as quickly as ever.

Industrial
Colliers: Bread maker renews at neighboring Carlstadt buildings

A wholesale bread maker has recommitted to two adjacent properties in the Meadowlands, where it leases nearly 170,000 square feet from separate landlords.

Professional Services
Mertz promotes longtime broker to EVP

NAI Mertz has promoted a 30-year industry veteran to executive vice president and director of brokerage and corporate services.

Residential & Mixed Use
Morgan Properties names new area VP for multifamily portfolio

A multifamily investment firm has named a new area vice president, whose duties include overseeing a portfolio of 50 apartment communities in New Jersey and two other states.