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
Developers buy Hackensack site for redevelopment, Alexander Anderson says

Developers plan to convert an office building in downtown Hackensack into 90 luxury apartments after acquiring the property for $2.5 million, according to brokers in the deal.

Professional Services
Three Avison Young brokers earn promotions

Avison Young has elevated two senior brokers and a young associate in New Jersey.

Residential & Mixed Use
Leasing begins at JMF rental project in Maplewood

JMF Properties has launched a preleasing program at its new health-oriented, 20-unit residential community in downtown Maplewood, the developer announced Wednesday.

Industrial
Mertz brokers sale-leaseback in Gloucester County industrial park

A real estate firm’s subsidiary has sold and leased back a 55,000-square-foot industrial building in the Pureland Industrial Complex in Swedesboro, in a deal brokered by NAI Mertz.

Professional Services
Fast-growing Lee & Associates picks N.J. president to lead expansion

Lee & Associates has tapped the president of the firm’s New Jersey office to lead a strategic expansion of its footprint on the East Coast.

Residential & Mixed Use
Newark rising: Successful projects breed confidence for what’s still to come, panel says

The Newark Regional Business Partnership’s annual Real Estate Market Forecast included an expert panel of developers and professionals. — Courtesy: Harold Banks/Prudential Financial

Office
New owner plans upgrades at office building after $21.5M sale

RXR Realty has sold a 230,000-square-foot Morristown office building to a Boston-based real estate investment firm, in a $21.5 million deal brokered by HFF.

Industrial
Sitex Group inks 90K sq. ft. lease in Passaic County

A lighting company is growing its footprint with the signing of a new 90,000-square-foot lease in Passaic County with Sitex Group, the property owner said Tuesday.

Retail
Goldstein Group touts nearly 20K sq. ft. in new retail deals

The Goldstein Group has announced more than a half-dozen new leases as part of a recent uptick in New Jersey’s retail real estate market.

Residential & Mixed Use
First phase of Jersey City rental complex opens for leasing

The developers of Journal Squared, a mixed-use development rising in Jersey City’s historic commercial hub, say the first of their three planned residential towers is open for business.