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
NAI Hanson inks 16,500 sq. ft. sale-leaseback in Bergen County

A two-story office building in River Edge has changed hands after several years on the market, following a transaction brokered by NAI James E. Hanson.

Industrial
American Equity acquires 318,000 sq. ft. waterfront warehouse in Elizabeth

A real estate firm is planning major upgrades at an industrial building beneath the Goethals Bridge, following its acquisition of the 318,000-square-foot property in Elizabeth.

Retail
Retail, residential project in Hanover was more than a decade in the making

Following an environmental cleanup, a lengthy entitlement process and several hurdles along the way, Key Properties has marked the completion of a 107,000-square-foot shopping center known as Hanover Crossroads. The complex at 110 East Hanover Ave. became fully leased within 15 months of breaking ground — anchored by major tenants such as T.J.Maxx, HomeGoods, QuickChek and AutoZone — as other new retail projects have taken shape nearby.

Residential & Mixed Use
Woodbridge, HMFA unveil new 57-unit affordable housing community

Developers have completed a nearly $12 million affordable housing project in Woodbridge, delivering 57 units that will be reserved for seniors and homeless residents.

Industrial
Warehouse tenant extends at Hartz-owned building in Bayonne

A maker of fashion accessories has extended its 84,000-square-foot lease at a Bayonne industrial building, in a transaction brokered by Colliers International.

Office
Value-add investor acquires 107,000 sq. ft. Somerset office building

A real estate investment firm has paid nearly $6 million to acquire a 107,000-square-foot office building in Somerset County, where it now plans to spend another several million on upgrades.

Residential & Mixed Use
Business, community leaders break ground on long-awaited Mulberry Commons project in Newark

Stakeholders broke ground Monday on the long-awaited Mulberry Commons project, a 22-acre redevelopment that will create a sprawling park and public space at what had remained a sea of parking lots around the Prudential Center.

Office
C&W: Office vacancy in N.J. remains stable, despite tepid leasing activity

Office vacancy in northern and central New Jersey saw little change during the third quarter, as slow leasing activity was offset by news that older buildings would soon be repurposed.

Retail
ECB Capital brokers $36 million loan for Monmouth County shopping center

The developer of a 290,000-square-foot shopping center in Howell has refinanced the property, thanks to a $36 million loan arranged by ECB Capital Group.

Industrial
Sitex, NAI Hanson mark start of construction for Mahwah warehouse

Sitex Group has started construction on a new 271,000-square-foot industrial building in Mahwah, as brokers with NAI James E. Hanson ramp up their marketing effort for the site.