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.

Office
Singapore REIT pays $115 million for Secaucus office building, CBRE says

A joint venture has reaped $115 million from the sale of a 460,000-square-foot office building in Secaucus, following its purchase of the property in 2014 and nearly $18 million worth of upgrades that attracted Quest Diagnostics as a tenant.

Residential & Mixed Use
Carlton Group brokers $46 million loan for Bound Brook apartment project

A real estate investment banking firm has arranged $46 million in financing for the developer of Queen’s Gate Apartments, a new 144-unit rental community in Bound Brook.

Office
Gottesman, Mountain Development name leasing team for West Windsor office sites

The owners of a two-year-old office building and an adjacent development site in West Windsor have tapped Mercer Oak Realty LLC to oversee leasing for the properties, the firms announced.

Retail
Footwear seller joins tenant lineup at Morris County retail development

A shopping center that is under construction in Morris County has added a global shoe retailer to its roster, according to developer Key Properties LLC.

Residential & Mixed Use
KRE, Goldman acquire 439-unit Plainsboro community for $73.3 million

A joint venture has acquired a 439-unit garden apartment property in Plainsboro for more than $73 million, marking the partnership’s second acquisition in the township in less than 18 months.

Policy Page
Thinking green: The role of indoor farming in older industrial space

In a state where available industrial space is already in short supply due to our exploding e-commerce sector, asking prices and rents for older and smaller industrial buildings may soon be rising dramatically. Also on the rise will be demand for the power needed to fuel plant growth and maintain proper growing conditions.

Office
Sanzari inks five renewals at Teaneck office buildings

Five office tenants have committed to staying in place at the mixed-use Glenpointe complex in Teaneck, according to property owner Alfred Sanzari Enterprises.

Retail
LMC: Growing fitness chain joins Watchung retail center

A program-based fitness operator has leased 3,000 square feet at a heavily trafficked shopping center along Route 22 in Watchung, according to Levin Management Corp.

Events
SIOR members get tips on maximizing CRE income (PHOTO)

A recent event hosted by the New Jersey chapter of the Society of Industrial and Office Realtors focused on maximizing commercial real estate income.

Personalities
Strategic approach: Bergstein reflects on blockbuster deals and Lincoln Equities Group’s plans to diversify

During his more than 25 years with Lincoln Equities Group — including a full decade as its top executive — Joel Bergstein has seen plenty of changes in the commercial real estate sector.