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
KBS touts 84,400 sq. ft. in leasing at Woodbridge office park

Three new leases and a renewal have contributed to more than 84,000 square feet of activity at a six-building office campus in Woodbridge, landlord KBS Realty Advisors announced.

Office
Global IT firm in talks to buy Merck campus in Readington, reports say

After being on the market for several years, the sprawling Merck & Co. campus in Hunterdon County may soon have a new owner.

Retail
CBRE: Secaucus retail center sells for $43 million

The owner of a shopping center in Secaucus has sold the complex for $43 million, marking the second sale in four months of a retail property in the town’s Harmon Meadow section.

Professional Services
BRC adds two sales associates for industrial brokerage

Bussel Realty Corp. has bolstered its brokerage team with two new hires, the industrial real estate services firm said Tuesday.

Retail
High-end Eastern European supermarket opens first N.J. location

A gourmet Eastern European grocery store based in Brooklyn has unveiled its first location in New Jersey, a 30,000-square-foot space in Paramus.

Industrial
Stro Cos. touts leases at Meadowlands industrial building

Two new leases and two renewals have fueled more than 26,500 square feet of activity at a Meadowlands flex industrial building, executives with The Stro Cos. announced recently.

Residential & Mixed Use
Marchetta steps down from HMFA, returns to private sector

The longtime head of the New Jersey Housing and Mortgage Finance Agency has stepped down from the post and is preparing to start his own consulting firm.

Government & Public Policy
Ex-CRDA official tapped for Newark economic development post

The former head of the state Casino Reinvestment Development Authority is joining Newark City Hall, where he will serve in a newly created position tied to economic development.

Industrial
NAI Hanson: Clothing distributor leases 14,300 sq. ft. in Hackensack

A clothing distributor is relocating to a Hackensack industrial building, where it will occupy more than 14,000 square feet with the potential for expansion.

Residential & Mixed Use
Developer sells Wood-Ridge apartments after 40 years

The original developer of a 22-unit apartment complex in Wood-Ridge has sold the property after four decades, in a $4.1 million deal brokered by The Kislak Co.