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
Teva moving to Parsippany from Pennsylvania, Murphy says

Teva Pharmaceuticals will move its U.S. headquarters to Parsippany from Pennsylvania, Gov. Phil Murphy said Thursday, bringing nearly 850 jobs and a commitment to occupy nearly 350,000 square feet.

Residential & Mixed Use
Developer plans fall opening for Lakewood apartments

A developer is set to unveil a new 74-unit apartment complex in Lakewood, with plans to open the property as soon as this fall.

Health Care & Education
DMR-designed surgi-center opens in Bridgewater

A hospital system has opened a new medical office facility on Route 22 in Bridgewater and will soon debut two others in the region, all under projects overseen by DMR Architects.

Retail
Marcus brokers sale of net-leased property in Hudson County

A private investor has sold a West New York retail property for just over $2 million, brokers with Marcus & Millichap announced.

Office
NKF: Large deals fuel Q2 surge for New Jersey office market

Despite new blocks of space hitting the market, New Jersey saw a long-overdue surge of large office leases in the second quarter — with signs that more are on the way.

Government & Public Policy
RWJBarnabas plans new health campus on Fort Monmouth parcel, state says

State officials have approved plans for RWJBarnabas Health to acquire a piece of the landmark Fort Monmouth property, where it will develop a large health campus in place of what is currently a defunct Cold War-era research complex.

Industrial
REIT buys 260,000 sq. ft. cold storage facility in Perth Amboy, HFF says

A real estate investment trust has acquired a 260,046-square-foot, triple net leased Preferred Freezer Services facility in Perth Amboy, brokers with HFF said Monday.

Industrial
CBRE: Secaucus flex building inks six leases for 105,000 sq. ft.

Six tenants have signed new leases to fill nearly half of a two-building, 242,000-square-foot flex property in Secaucus, brokers with CBRE announced.

Finance & Capital Markets
Progress: $2.3 million loan funds purchase of Jersey City development site

Progress Capital Advisors has closed on a $2.3 million loan for a client to acquire a gas station in Jersey City, where it has approvals to build a 45-unit apartment building.

Industrial
Mertz brokers 112,000 sq. ft. industrial sale in Mount Laurel

First Industrial Realty Trust has sold a 112,000-square-foot property in Mount Laurel, in a transaction brokered by NAI Mertz.