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.

Editor’s Note
A growth area in the making?

We set out this month to look at the role of technology companies in New Jersey’s office market. The tech sector certainly isn’t the dominant industry in the state’s economy, but it has provided a rare source of job growth in the last few years that has resulted in new office requirements. We’ve seen companies such as Audible, iCIMS and Jet.com lease space in New Jersey thanks to both state incentives and the type of organic growth that landlords would love to see continue.

Industrial
Industrial strength: Prices are soaring as investors jockey for warehouse, logistics space in New Jersey

Warehouse and distribution space in New Jersey has become a prized asset class among institutions and other major investors, leading to increased competition, surging prices and more creativity by those looking to add industrial to their portfolio.

Industrial
Record rent growth continues in N.J. industrial market

By many accounts, rent growth in New Jersey’s industrial sector continues to be unprecedented. Research from multiple real estate service firms shows that average rental rates across the market hit several milestones this summer.

Residential & Mixed Use
Three Union City properties sell for $2.9 million, Cervelli says

An investor in Union City has paid nearly $2.9 million for three mixed-use buildings with a combined 25 units, in a deal brokered by Cervelli Real Estate & Property Management.

Professional Services
Gensler grows workplace strategy team in New Jersey office

Global architecture firm Gensler has added to its team in New Jersey with the hiring of a new strategist in its Morristown office.

Finance & Capital Markets
Pricing power: A look at recent investment sales in New Jersey’s industrial market

Industrial space has become a favored asset class among institutional investors in New Jersey, even if high-profile opportunities are few and far between. Here is a sampling of industrial deals from the past 12 months that show just how fierce the competition has become.

Industrial
New lease structures, longer terms take hold in N.J. industrial market

Among the many changes that have come to New Jersey’s industrial market — especially those that have rallied investors — Rob Kossar points to the differences in how leases are structured.

The Rundown
KPMG mulling another expansion in Montvale, report says

Less than six months after starting construction on a new technology center in Montvale, KMPG LLP reportedly is seeking to expand its footprint in the borough once again.

Professional Services
Greenbaum Rowe hires new attorneys in real estate, environmental groups

Greenbaum, Rowe, Smith & Davis LLP has added to its real estate and environmental practices with the hiring of two new attorneys.

Office
Colliers: Workout supplements firm relocating to Newark

A bodybuilding and weight loss solutions company has subleased 11,200 square feet at Robert Treat Center in Newark, according to brokers with Colliers International Group.