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.

Residential & Mixed Use
Hackensack apartments change hands for $6.1M

The Kislak Co. Inc. has arranged the $6.1 million sale of a 40-unit garden apartment complex in Hackensack, marking the second-highest per unit price recorded for such a property in the city.

Industrial
Warehouse sale allows beverage maker to relocate, NAI Hanson says

A beverage company is consolidating from two locations into more than 49,000 square feet in South Hackensack, following a deal arranged by NAI James E. Hanson.

Office
Normandy sells Zoetis HQ building in Parsippany for $44M

A group led by Normandy Real Estate Partners has sold a Parsippany office building for $44 million, following a gut rehabilitation project that attracted a blue-chip pharmaceutical tenant.

Retail
CBRE brokers retail trades totaling $25.5M

Two net leased retail sites in Monmouth and Camden counties have been sold for a total of more than $25 million, in separate deals arranged by brokers with CBRE.

Residential & Mixed Use
Developer opens new senior housing complex in Barnegat

The Walters Group has opened the doors to a new 70-unit age-restricted community in Barnegat, touting a project that was completed less than a year after it closed on the property.

Industrial
NAI Hanson inks 5,000 sq. ft. industrial lease in Englewood

A retail merchandising company has leased 5,000 square feet at an Englewood industrial building, brokerage firm NAI James E. Hanson announced Thursday.

The Rundown
Developer gets OK for ShopRite, apartments in New Milford

A narrow vote in New Milford has cleared the way for a developer to proceed with plans for a new shopping center and apartment complex in the borough, published reports said.

Industrial
Auto dealer inks 155K sq. ft. lease at Secaucus warehouse

A luxury auto dealership has leased a nearly 155,000-square-foot industrial building in Secaucus, where it will store and prepare new vehicles before placing them on lots around the region.

Health Care & Education
Riordan named executive director of Rutgers real estate center

The Center for Real Estate at Rutgers Business School has hired a veteran finance executive to help oversee its growth in the years ahead, the program announced Wednesday.

Retail
Report: Barnes & Noble, Rutgers bookstore coming to rehabbed Newark building

With the opening of Newark’s first Whole Foods on the horizon, the developers of the building that will house the grocery store have announced the addition of another national brand.