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: Buyer of Maplewood property plans conversion to medical space

A real estate firm has acquired an 11,500-square-foot office building in Maplewood that it now plans to repurpose as a headquarters medical facility, according to brokers involved in the deal.

Residential & Mixed Use
Dover project marks latest transit hub community for Capodagli

Construction is underway at the site of a planned 214-unit apartment complex in downtown Dover, where a developer is seeking to capitalize on a busy downtown and nearby mass transit.

Finance & Capital Markets
Financing aids sale of Central Jersey mobile home community

A firm has arranged more than $23 million in financing for a client to acquire a manufactured housing community less than 10 miles outside New Brunswick.

Retail
LMC: Sushi chain marks third location with Bayonne lease

A Bayonne retail property is now fully occupied after signing a lease with a Hudson County-based sushi chain, according to Levin Management Corp.

Office
Law firm inks 5,000 sq. ft. office lease in Marlton, WCRE says

A boutique law firm has leased about 5,000 square feet at a Marlton office building along Route 73, in a deal brokered by Wolf Commercial Real Estate.

Residential & Mixed Use
Joint venture breaks ground in Jersey City on state’s first micro apartment project

Developers have kicked off construction at what they say is the state’s first micro apartment building in New Jersey, while marking the latest project to move ahead in Jersey City.

Retail
NAI Hanson: New owner of Caldwell bank building plans conversion

Wells Fargo has sold a corner bank building in downtown Caldwell, paving the way for its new owner to convert it to a mixed-use property for office and retail tenants.

Government & Public Policy
NJAA earns national awards for leadership, advocacy

The New Jersey Apartment Association has earned national recognition for its work in the Garden State, including a prestigious top honor for its executive director.

Retail
Middlesex County retail property sells for $1.2 million

A freestanding retail building in North Brunswick has changed hands among private investors, in a nearly $1.2 million sale brokered by Marcus & Millichap.

Government & Public Policy
Special liquor permit bill would aid development in downtown Hackensack, advocates say

Amid the sweeping push to reform the state’s outdated liquor license laws, stakeholders in Hackensack are seeking a more targeted solution for their city. Business leaders and local officials have thrown their support behind a bill that would allow builders in transit-oriented, downtown redevelopment zones to apply for yearly liquor permits based on the new residents that their projects would bring to the area.