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
Staffing agency leases 1,400 sq. ft. at new Jersey City rental property, Cervelli says

A staffing agency has leased nearly 1,400 square feet at the base of a new boutique apartment building in Jersey City, brokers with Cervelli Real Estate & Property Management said.

Retail
Renovated 10,000 sq. ft. strip center in Bergen County fetches $4.3 million, Marcus says

A private investor has acquired a roughly 10,000-square-foot strip center in Bergen County for some $4.3 million, in a transaction arranged by Marcus & Millichap.

Editor’s Note
The best of The Briefing 2024

With the holidays upon us, we’re excited to bring you a look back at our top stories of 2024, including our most-read items and a few editor’s picks. You can catch up on our daily “best of” emails below. We will also keep you updated in the event of any breaking news.

Current Issue
Owners Council Q&A: Mark Shearer

Tenant activity for industrial has increased over the past few months and is closer to historic norms. We are seeing increased activity in the capital markets.

Government & Public Policy
EDA approves $17.7 million Aspire award for Camden affordable housing, health center project

A development group has secured a nearly $18 million state tax credit award for a plan to build 30 units of affordable housing and a new health center in Camden’s Parkside neighborhood.

Industrial
Doughnut manufacturer eyes major expansion, leases 125,000 sq. ft. in Rockaway

A doughnut manufacturer is set to expand after leasing nearly 125,000 square feet for a new facility in Rockaway, according to a brokerage team with Savills.

Education
Rutgers Center for Real Estate gathers students, industry leaders for annual scholarship dinner

Dozens of aspiring commercial real estate professionals came together earlier this month as the Rutgers Center for Real Estate hosted its fifth annual scholarship celebration, joining a group of seasoned industry leaders and others who are supporting their education.

Office
Edison office condo trades for $450,000, BRC says

A physician has sold a nearly 1,900-square-foot office condominium in Edison for $450,000, in a newly announced deal by Bussel Realty Corp.

Retail
Valley Bank opens new Norwood branch after deal brokered by The Goldstein Group, JLL

Valley Bank has opened the doors to a new 2,800-square-foot branch location in northern Bergen County, having leased the space earlier this year.

Current Issue
Owners Council Q&A: Jack Morris

I’ll always be bullish on New Jersey. As with any market, we may need to endure some ups and downs, but our state’s fundamentals give us a high floor and a very high ceiling. Qualities like access to New York City, a highly trained workforce, great medical facilities and care, an array of recreational assets and municipalities that are attractive to families give New Jersey long-term appeal. Also, citizens value safety and security, and I want to give kudos to the incredible law enforcement professionals who serve our communities in New Jersey each and every day.