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
LMC: New 20,000 sq. ft. retail center coming to Union

A new neighborhood retail center is set to rise in one of Union’s main thoroughfares, according to executives with Levin Management Corp. who are overseeing the project.

Industrial
Bussel brokers $850,000 sale of Middlesex industrial property

The owner of a transportation company has paid $850,000 for a 14,000-square-foot industrial building in Middlesex County, according to a broker with Bussel Realty Corp.

Retail
With construction underway once again, Christie touts economic impact of American Dream

The massive American Dream project is “progressing vigorously” in East Rutherford, Gov. Chris Christie proclaimed Monday, as he visited the site and sought to promote the outsized economic impact of the long-stalled retail and entertainment complex.

Professional Services
CBRE hires veteran N.J. office, data center broker

A well-known broker in the state has joined CBRE as a senior vice president in its central New Jersey office, the real estate services firm said Monday.

Office
Larken Associates acquires 90,000 sq. ft. building in Branchburg

A real estate firm has added to its portfolio in its hometown of Branchburg, acquiring a 90,000-square-foot office complex along Route 22.

Industrial
NAI Hanson: Logistics firm expands into Meadowlands industrial building

A national transportation and logistics firm has leased nearly half of a 53,000-square-foot industrial building in the Meadowlands, according to brokers with NAI James E. Hanson.

Editor’s Note
A growth area in the making?

We set out this month to look at the role of technology companies in New Jersey’s office market. The tech sector certainly isn’t the dominant industry in the state’s economy, but it has provided a rare source of job growth in the last few years that has resulted in new office requirements. We’ve seen companies such as Audible, iCIMS and Jet.com lease space in New Jersey thanks to both state incentives and the type of organic growth that landlords would love to see continue.

Industrial
Industrial strength: Prices are soaring as investors jockey for warehouse, logistics space in New Jersey

Warehouse and distribution space in New Jersey has become a prized asset class among institutions and other major investors, leading to increased competition, surging prices and more creativity by those looking to add industrial to their portfolio.

Industrial
Record rent growth continues in N.J. industrial market

By many accounts, rent growth in New Jersey’s industrial sector continues to be unprecedented. Research from multiple real estate service firms shows that average rental rates across the market hit several milestones this summer.

Residential & Mixed Use
Three Union City properties sell for $2.9 million, Cervelli says

An investor in Union City has paid nearly $2.9 million for three mixed-use buildings with a combined 25 units, in a deal brokered by Cervelli Real Estate & Property Management.