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.

Industrial
Denholtz inks 14,000 sq. ft. lease for inflatable play center

A new children’s play center is set to open in Piscataway after its operator signed a 13,085-square-foot lease with Denholtz Associates, the commercial real estate firm said.

Industrial
Prologis, Allied Beverage detail plans for 540,000 sq. ft. distribution center in Elizabeth

Prologis is set to build a new 540,000-square-foot distribution center in Elizabeth as part of a recently signed lease with a major wine and spirits distributor based in the state.

Residential & Mixed Use
Gebroe-Hammer: South Jersey rental properties fetch a combined $89 million

Investors have paid a combined $89 million for nearly 900 garden apartments in southern New Jersey, under three separate transactions announced this week by Gebroe-Hammer Associates.

Industrial
Saddleback inks 31,000 sq. ft. lease in Parsippany

Saddleback Real Estate Developers has leased more than 30,000 square feet in Parsippany to a bearing products distributor, the investment and management firm said this week.

Industrial
NAI Hanson: Large-format printer inks 10,700 sq. ft. lease in South Hackensack

A firm that prints vehicle wraps and other large-format graphics has leased nearly 11,000 square feet of industrial space in South Hackensack, according to brokers with NAI James E. Hanson.

Photos
IN THE MOMENT: NAIOP New Jersey’s President’s Awards and Hall of Fame Dinner (SLIDESHOW)

NAIOP’s New Jersey chapter recently hosted a crowd of more than 300 real estate executives and professionals for the association’s annual President’s Awards and Hall of Fame Dinner.

Government & Public Policy
EDA: Mars Wrigley weighing 110,000 sq. ft. lease at Newark project

State officials have approved a 10-year, $31.5 million tax credit to encourage Mars Wrigley to move more than 480 employees to Newark, where it would lease 110,000 square feet at a historic warehouse that is being redeveloped by Edison Properties.

Office
Quest, Ralph Lauren eye projects at ex-Roche campus on Route 3

Quest Diagnostics and Ralph Lauren could be among the newest tenants at the former Hoffmann-LaRoche campus in Clifton and Nutley, now known as ON3, following the approval of $88 million in tax credits to support more than 500,000 square feet of activity at the site.

Government & Public Policy
LabCorp, Konica Minolta among other major EDA approvals

The state has approved a nearly $40 million tax credit package tied a proposal for LabCorp to modernize and expand its regional headquarters and lab complex in Raritan Borough, while also approving a $29 million incentive to encourage Konica Minolta Business Solutions to expand its existing headquarters in Ramsey.

Office
Broadridge opens 160,000 sq. ft. office at 2 Gateway in Newark

A global financial technology firm has opened the doors to its new 160,000-square-foot office in downtown Newark, now home to a divisional headquarters and some 1,100 of its employees.