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.

Residential & Mixed Use
Work set to begin at new 69-unit rental project in Somerville

A developer has received approval to build 69 luxury apartments in downtown Somerville, marking the latest project to move forward in the borough’s ongoing redevelopment.

Office
WCRE: Capital markets pick up steam in South Jersey office sector

Investment sales volume is on the rise for office buildings in three southern New Jersey counties, with nearly 800,000 square feet changing hands to start the year and another 2.7 million square feet on the market or under agreement.

Professional Services
With growth plans in sight, Colliers opens third N.J. office

Colliers International Group has opened a new location in Middlesex County as part of an expansion in the state that the firm says will only continue.

Residential & Mixed Use
Redwood Realty brokers $6M in Hudson County apartment sales

Seven apartment buildings in Hudson County traded last month for a combined price of $6 million, in a series of deals brokered by Redwood Realty Advisors.

The Rundown
Town alleges conflict of interest in affordable housing case, citing judge’s ties to developer

Attorneys for the township of South Brunswick are accusing a former Superior Court judge of having a conflict of interest, citing his ties to a developer that he went to work for only months after ruling that the municipality must zone for at least 1,500 affordable housing units.

Industrial
Logistics firms fill new spec industrial building at 8A, CBRE says

A new 450,000-square-foot industrial building in South Brunswick is at full occupancy after its developer signed leases with two logistics providers, according to CBRE Group Inc.

Health Care & Education
Monmouth students meet CRE pros at annual Kislak Institute career night

Executives from some of the state’s top commercial real estate firms joined dozens of students recently at an annual industry career night hosted by Monmouth University.

Residential & Mixed Use
Gebroe-Hammer: 72-unit Jersey City portfolio fetches $7.75M

A three-building multifamily portfolio in southern Jersey City has changed hands, in a nearly $8 million deal brokered by Gebroe-Hammer Associates.

Office
New Jersey Future to honor Kearny shipyard redevelopment, other projects

A developer’s plan to transform a 2 million-square-foot former shipyard in Kearny is among several projects that will be honored later this spring by the organization New Jersey Future.

Government & Public Policy
Rebuilding affordable housing: After decades of policy purgatory, is N.J. finally ready to move forward?

Two years after the state Supreme Court shook up New Jersey’s affordable housing landscape, dozens of towns in the state may finally be ready to turn the page, even as many others dig in for what looks to be an even longer fight.