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.

Professional Services
Former Goldman VP joins REDCOM sales team

REDCOM Design & Construction LLC has bolstered its sales team with the addition of a former Goldman Sachs vice president.

Office
JLL: New Brunswick redevelopment has flexible design for tenants to ‘make a statement’

New Brunswick Development Corp. expects to begin site construction next month at a planned 1.7 million-square-foot redevelopment project in the heart of the Middlesex County seat.

Residential & Mixed Use
KRE, Avenue Realty Capital acquire Union County apartments for $70M

KRE Group and an investment partner have paid $70 million to acquire a 228-unit rental community in Springfield, marking its latest step to grow its value-add multifamily business.

Office
Massive Kearny Point redevelopment hub inks partnership with Uber

The developer that is reinventing a 2 million-square-foot former shipyard in Kearny has partnered with Uber as part of its effort to create a 21st-century workplace hub at the site.

Residential & Mixed Use
Kislak inks sale of development sites in Jersey City hot spots

The Kislak Co. Inc. has brokered separate land sales totaling nearly $12 million in two of Jersey City’s most active neighborhoods for development, the firm said Thursday.

Residential & Mixed Use
Developer marks milestone at new Jersey City rental project

Fields Construction Co. has completed vertical construction at a project that will deliver 255 new high-end apartments to Jersey City’s Paulus Hook neighborhood, the firm said Thursday.

Health Care & Education
HFF: NJCU rental project secures $32.5 million in financing

A new 163-unit multifamily property is rising at the campus of New Jersey City University with the help of a $32.5 million construction loan arranged by HFF, the brokerage firm said Thursday.

Retail
Advance: Petco inks deal at Route 130 retail center

Petco has signed a 15,643-square-foot lease at Advance Realty’s recently repositioned shopping center in East Windsor, bringing the property to 90 percent occupancy.

Health Care & Education
WCRE picked to market South Jersey school property

A nearly 80,000-square-foot school property in Burlington County is being marketed for lease as administrators prepare to close the facility later this year, Wolf Commercial Real Estate said.

Government & Public Policy
New EDA programs seek to promote street-level leasing, upgrades

The state Economic Development Authority last month unveiled two new funding tools aimed at helping street-level retail and downtown businesses in Passaic, Trenton, Paterson, Camden and Atlantic City.