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.

Government & Public Policy
Growing life sciences firms, Big Pharma giant offered EDA incentives

State officials have approved tax credits meant to help three pharmaceutical firms grow the industry’s footprint in New Jersey, while also dangling a nearly $40 million incentive to keep a global life sciences giant from pulling its U.S. headquarters out of the state.

Retail
Advance, DeBartolo set to begin Ledgewood Mall redevelopment

Developers have secured the local approvals needed to begin “de-malling” a mall in western Morris County, paving the way for them to reposition it as a new open-air shopping center.

People
CBRE names new co-leader of N.J. capital markets group

By Joshua Burd CBRE Group Inc. has promoted one of its longtime brokers and office market experts to co-leader of its capital markets group in New Jersey, the real estate services firm announced. Jeremy Neuer takes over the position after…

Retail
Wawa building sold in Cape May County, Goldstein Group says

A grocery operator has acquired a former Wawa building in Cape May County and now plans to operate the property as a food market, according to brokers with The Goldstein Group.

Office
Secaucus office buildings fetch $21 million, CBRE says

A real estate investment firm has reaped $21 million from the sale of two office buildings in Secaucus, following a transaction brokered by CBRE Group Inc.

Professional Services
The Goldstein Group forms unit focused on mixed-use, urban retail

The Goldstein Group has launched a new division to offer retail leasing and advisory services to urban mixed-use property owners, developers and managers in the region.

Residential & Mixed Use
Bridgeton rental community slated for $18.7 million rehab

A multifamily developer has kicked off an $18.7 million rehab of a 156-unit property in Bridgeton, where it aims to modernize the community and expand services for residents.

Retail
Pet products store leases 4,400 sq. ft. in Warren County, LMC says

A pet products retailer is among the newest tenants at a 61,000-square-foot shopping center in Warren County, according to Levin Management Corp.

Industrial
Garden State drawing more industrial tenants from NYC boroughs

Companies from Brooklyn and New York City’s other outer boroughs are increasingly taking industrial space in New Jersey, brokers say, whether they are expanding beyond their original business locations or looking for a new home altogether. The trend is adding to the already surging demand in the market for warehouse and distribution space in the Garden State.

Industrial
Crossing over: A look at tenants that have moved to New Jersey from NYC

Industrial users of all sizes are either relocating or expanding into New Jersey from the boroughs of New York City. Click here for a sampling of other deals from the past year: