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.

Health Care & Education
NJIT unveils new 220,000 sq. ft. wellness, events center (SLIDESHOW)

The New Jersey Institute of Technology has taken the wraps off a 220,000-square-foot multipurpose center, the largest piece of a $400 million overhaul of its footprint in Newark.

Office
P3RE inks 26,000 sq. ft. lease with nonprofit in Bloomfield

A nonprofit that provides services to youth and families has leased 26,000 square feet at a 380,000-square-foot office park in Bloomfield, according to landlord P3RE Properties.

Retail
K&G leases 18,500 sq. ft. at Azarian complex in Passaic County

The Azarian Group LLC has added a men’s fashion retailer to its tenant roster at a 50,000-square-foot shopping center in Woodland Park, the firm announced recently.

Residential & Mixed Use
Investment firm’s $425 million housing plan to include northern N.J., New York City

A real estate investment firm plans to spend more than $200 million to acquire single-family and multifamily properties in northern New Jersey, Philadelphia and New York City, under a strategy that calls for repositioning the homes as workforce rental housing.

Industrial
New LG distribution center shows growing strength of Exit 8 industrial market

A developer has opened the doors to a new 410,300-square-foot industrial building in East Windsor that will serve as a distribution center and warehouse for LG Electronics USA.

Office
VREP details new 90,000 sq. ft. lease with Billtrust in Lawrenceville

Vision Real Estate Partners is set to welcome another large corporate tenant to its portfolio, following a 90,000-square-foot lease in Lawrenceville with an invoicing and payment software firm.

Industrial
Tulfra celebrates Oktoberfest while unveiling flex building in West Caldwell (SLIDESHOW)

Tulfra Real Estate has completed a major renovation a 108,000-square-foot flex building in West Caldwell — taking a rather seasonal approach recently when it unveiled the space to brokers.

Industrial
CPN: Auction house buys 16,000 sq. ft. Hunterdon County building

An auction house is expanding its footprint with the acquisition of a 16,000-square-foot building in Lambertville, according to the brokerage firm Commercial Property Network.

Retail
LMC: Restaurant inks second N.J. location in Franklin Twp.

An Afghan and Middle Eastern restaurant business is set to expand into Somerset County, following a commitment to a 266,000-square-foot shopping center in Franklin Township.

Photos
IN THE MOMENT: Miles Berger honored at Downtown New Jersey conference

Miles Berger, CEO of Berger Organization in Newark, was honored recently as an Individual of Excellence by Downtown New Jersey in recognition of his leadership and dedication to downtown development.