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
IT services firm agrees to buy former Merck HQ in Readington, plans fall closing

The long-awaited sale of the massive Merck & Co. property in Readington is slated to close this fall, following the news that a California-based IT services firm has agreed to purchase the site.

Residential & Mixed Use
Lennar subsidiary breaks ground on 180-unit Jersey City project

Construction is underway on a new mixed-use project that calls for bringing 180 apartments, retail space and a black-box theater to an arts district in downtown Jersey City.

Professional Services
PS&S announces eight promotions, including five new principals

Design and engineering firm PS&S has named five new principals, part of eight new promotions that took effect late last month.

Deals
Zip line operator closes on land in Morris County, NAI Hanson says

An operator of zip line parks has acquired two vacant parcels spanning 48 acres in Morris County, paving the way for its expansion into the Northeast.

Retail
Brunelli touts seven new Dollar Tree leases in New Jersey

Dollar Tree is set to add eight locations in New Jersey, following a set of leases brokered by R.J. Brunelli & Co. LLC.

Residential & Mixed Use
Developer unveils 130-unit, waterfront condo building in Asbury Park (SLIDESHOW)

A developer has taken the wraps off a new luxury condominium building in Asbury Park, the latest piece of its high-profile, $300 million redevelopment along the city’s iconic beachfront.

Government & Public Policy
Amazon HQ2: Newark council approves $2 billion incentive package

Newark city officials have formalized a $2 billion incentive package meant to attract Amazon’s second headquarters project, one that could also be used to lure other companies that would deliver a similar economic impact.

Residential & Mixed Use
South Jersey garden apartments fetch $27.4 million

A private investor has paid more than $27 million for a 456-unit apartment complex in Camden County, brokers with The Kislak Co. Inc. said Wednesday.

Office
KRE launches upgrades at Bridgewater office building, C&W says

Kushner Real Estate Group has started renovations at a 140,000-square-foot office building in Bridgewater, with a focus on adding new amenities and collaborative spaces to the property.

Residential & Mixed Use
Gebroe-Hammer touts $20.3 million in Middlesex, Monmouth apartment sales

A newly built, 38-unit apartment building in Perth Amboy has sold for more than $5.6 million, in one of several recent transactions announced Wednesday by Gebroe-Hammer Associates.