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.

Sponsored Content
Trend Watch Oct. 23: Industrial rent growth continues, for certain areas it really continues

Northern and Central New Jersey have seen industrial asking rent growth of 11.5 percent year-over-year. The Exit 10 submarket increased 17.8 percent year-over-year, driven by an increase of Class A space with asking rents as high as $9.25 per square foot.

Office
Other N.J. cities forge ahead, file bids for Amazon HQ2

Several other cities in New Jersey have filed their bids to become the home of Amazon’s second headquarters, despite the state throwing its official support behind Newark earlier this week.

Residential & Mixed Use
Camden apartment complex fetches $34.5 million, Marcus & Millichap says

An owner and developer of low-income housing has acquired nearly 400 existing units in Camden, in a nearly $34.5 million deal arranged by Marcus & Millichap.

Government & Public Policy
NJAA marks record attendance by lawmakers for PAC event (SLIDESHOW)

In a sign of strength for the state’s multifamily sector, some three dozen state lawmakers turned out this week for an annual reception hosted by the New Jersey Apartment Association.

Residential & Mixed Use
Developer set to begin leasing at new Monmouth County rental project

BNE Real Estate will soon open the doors to its new 227-unit luxury apartment project in Aberdeen, hoping to capitalize on a location just steps from an NJ Transit rail station.

Finance & Capital Markets
CRE mortgage broker firm hires business development exec for new unit

Eastern Union Funding, a Howell-based commercial real estate mortgage brokerage firm, has hired a director of business development for a newly launched division.

Residential & Mixed Use
Watchung apartment complex sells for $90 million

A high-end apartment community in Somerset County is under new ownership, following the roughly $90 million sale of the property to a Manhattan-based operator.

Office
Development set to begin at new hotel, restaurant at SJP campus in Bridgewater

SJP Properties has sold a parcel within its five-building office campus in Bridgewater, paving the way for the development of a new high-end Marriott hotel and Zinburger Wine & Burger Bar.

Sponsored Content
Urban logistics set to change industrial real estate’s competitive landscape

The rising demand for sites that will support urban logistics centers has driven growth in Northern New Jersey, while also creating competition among developers, as forgotten industrial markets reemerge. Retailers, parcel carriers and food and beverage companies have all increased their demand for industrial space less than ten miles from Manhattan. Formerly obsolete locations throughout New York’s boroughs are reemerging as competitive alternatives to the New Jersey markets.

Professional Services
Ripco adds salesperson in N.J. office

Ripco Real Estate has expanded its brokerage team in New Jersey with the hiring of a new salesperson, the retail real estate firm announced recently.