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
Two-building complex changes hands in Pennsauken, WCRE says

Wolf Commercial Real Estate has brokered the sale of a two-building, 6,600-square-foot commercial complex in Pennsauken, the real estate services firm announced Friday.

Residential & Mixed Use
New $80 million rental tower slated for downtown Newark (SLIDESHOW)

A developer has unveiled plans for an $80 million luxury apartment project in Newark, touting a 256-unit tower that will offer “resort-style living” in the heart of the city’s downtown.

Office
Plumbing products firm inks 61,000 sq. ft. HQ lease in Parsippany

A maker of plumbing products is moving its North American headquarters to Parsippany, under a 60,600-square-foot lease announced Friday by Colliers International.

Residential & Mixed Use
Middlesex Co. apartments fetch $8.5 million, Kislak says

A longtime owner has sold the last multifamily building in its portfolio, a 68-unit property in Middlesex County that traded for $8.5 million.

Residential & Mixed Use
Apartment, retail building in Hudson County trades for $2.95 million

A private investor has acquired a 16,000-square-foot residential and retail property in West New York, following a nearly $3 million sale arranged by Marcus & Millichap.

Editor’s Note
A fast start to a busy year

As we’ve been reminded over the last two years, industry leaders have long feared that federal tax reform could spell the end of many of the loopholes enjoyed by developers and investors. It became clear last fall that benefits such as the 1031 exchange would live to see another day, but as we came to learn, that was just the beginning of how the commercial real estate sector would stand to gain under President Trump’s tax overhaul.

Industrial
Bridge acquires I-78 industrial site with approvals for 3.8 million sq. ft.

Bridge Development Partners has acquired the rights to build nearly 4 million square feet of industrial space near Interstate 78, following its $43 million purchase of a sprawling development site in Warren County.

Residential & Mixed Use
VIDEO: New Brunswick PAC project rising in Hub City

Following demolition last summer and a groundbreaking last fall, a $172 million, mixed-use project anchored by a new performing arts center is quickly rising in downtown New Brunswick.

Residential & Mixed Use
Woodmont touts promotions on residential management team

Woodmont Properties has expanded its community management team with two newly announced promotions.

Retail
‘Boot camp’ concept coming to Passaic Co. retail center

A growing fitness franchise is set to open its fourth location in New Jersey, following its recently signed, 3,600-square-foot lease at a Passaic County shopping center.