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.

Hospitality & Tourism
Holmdel OKs plan for rooftop hotel at Bell Works

Local officials have cleared the way for Somerset Development to build a new 200-room hotel atop Bell Works, its adaptive reuse of the iconic Bell Labs complex in Holmdel.

Industrial
Fully leased, 224,000 sq. ft. warehouse is CenterPoint’s latest N.J. purchase

CenterPoint Properties has expanded its New Jersey holdings with the addition of a 224,000-square-foot industrial building in South Brunswick, executives said Tuesday.

Industrial
Edison developer inks 80,000 sq. ft. lease with logistics firm

A logistics firm has leased more than 80,000 square feet at a newly built warehouse in Edison, developer Wick Cos. LLC announced Tuesday.

Office
NAI Hanson named leasing agent for 139,000 sq. ft. office building

Brokers with NAI James E. Hanson are marketing a 139,000-square-foot office building in northern Bergen County, touting the ability for tenants to capture Class A space at a good value.

Residential & Mixed Use
Lodi apartments fetch $7.75 million, Gebroe-Hammer says

A private investor has acquired a 50-unit garden apartment complex in Lodi, in a nearly $8 million sale brokered by Gebroe-Hammer Associates.

Industrial
NAI Hanson: Meadowlands primed for continued rent growth, demand

Rent growth and falling vacancy show no signs of slowing down for Meadowlands industrial space, thanks in large part to the continued flight of tenants from New York City.

Industrial
Amazon, retailers fuel Q4 industrial gains in N.J.

Retailers accounted for more than a third of all industrial gains in northern and central New Jersey at the end of 2017, according to JLL, fueling what amounted to the second-highest net absorption total of any year since the recession ended.

Office
Korman details plans for 500,000 sq. ft. timber office tower at Newark stadium site (RENDERINGS)

Lotus Equity Group has unveiled new details about its massive redevelopment plan for the former Newark Bears stadium — including what it says will be the largest mass timber office building in the United States.

Residential & Mixed Use
Jersey City condo project offering duplex, triplex units

A developer has debuted more than a dozen multilevel homes at the site of a new condominium project in Jersey City, offering what it says is a taste of brownstone-style living.

People
Sanzari promotes project manager to director role

A project manager at Alfred Sanzari Enterprises has earned an expanded role and a new title after more than a decade with the firm’s construction department.