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.

Retail
Art school, event space takes 1,200 sq. ft. on Route 46 in Morris County, Azarian says

A painting school and event space is coming to Rockaway Borough, where it will occupy more than 1,200 square feet under a deal arranged by Azarian Realty Co.

Industrial
Longpoint buys 101,000 sq. ft. Piscataway industrial portfolio

Longpoint has acquired two industrial buildings in Piscataway, expanding its portfolio by more than 101,000 square feet in a deal arranged by Lee & Associates – WBE New Jersey.

Office
Axria adds 200,000 sq. ft. Somerset office building, eyes redevelopment, in deal by JLL

Axria has purchased a 200,000-square-foot office building in the Somerset section of Franklin, where it’s now crafting a redevelopment plan that taps into the site’s strong location.

Finance & Capital Markets
G.S. Wilcox sources $26 million loan for Blue Star Shopping Center updates

The owner of the Blue Star Shopping Center in Watchung has closed on a $26 million loan for the property’s ongoing redevelopment, in a deal arranged by G.S. Wilcox & Co.

Office
Kislak: Pharma company to open newly acquired 52,000-square-foot office in Basking Ridge

A pharmaceutical company is set to unveil its new headquarters after recently acquiring an office building in Somerset County, according to Kislak Commercial Real Estate Services Inc.

Residential & Mixed Use
Pennrose, public officials debut 76-unit affordable housing property in Moorestown

Pennrose has delivered a new apartment building in Moorestown that will provide 76 units of affordable housing to families and other residents in the area.

Office
Barnes & Noble Education takes 29,000 sq. ft. for new Florham Park headquarters, C&W says

The parent of Barnes & Noble College has leased more than 29,000 square feet of office space in Florham Park, in a newly announced deal by Cushman & Wakefield.

Technology
Coming together: Collaboration, partnership in focus as Nokia Bell Labs tower breaks ground in New Brunswick

The groundbreaking for Nokia Bell Labs’ new research and office tower in New Brunswick was a celebration of not just the company’s legacy of collaboration in New Jersey, but the public-private partnerships that have brought the project to life.

Residential & Mixed Use
EDA approves $93 million in Aspire, historic tax credits to convert historic Newark office tower to affordable housing

A historic office building in downtown Newark is one step closer to becoming nearly 200 units of affordable housing after securing a pledge for more than $93 million in state tax credits.

People
STRO details new additions, promotions to bolster leadership and support growing portfolio

The STRO Cos. has announced a series of key promotions and new leadership appointments to support its growing real estate holdings and tenant roster across multiple regions.