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
Massive Kearny redevelopment site welcomes co-working space, restaurant

A sleek co-working space and new restaurant have opened in Kearny, where a company is pushing ahead with a plan to redevelop a historic, 2 million-square-foot former shipyard.

Health Care & Education
Rutgers real estate head Davis joins prestigious board

The academic director at Rutgers University’s real estate program has been elected to serve on the board of the American Real Estate and Urban Economics Association, the school announced.

Finance & Capital Markets
NAI Hanson brokers Whole Foods building sale in Morristown

A retail property housing a Whole Foods in Morristown is under new ownership, following a sale orchestrated by NAI James E. Hanson.

Government & Public Policy
Developers wanted for former Camden prison site

A state authority is seeking a developer for the site of a former prison in Camden — a parcel that it describes as “the most valuable piece of real estate” on the city’s northern waterfront.

Office
Avison Young brokers 380K sq. ft. in leases in Q3

A technology firm has renewed the lease at its headquarters office in Bridgewater, one of more than 20 deals brokered in the third quarter by Avison Young’s New Jersey office.

Retail
Levin tapped to lease, manage South Jersey retail center

Levin Management Corp. will oversee leasing and management for a Burlington County shopping center after joint venture’s recent acquisition of the grocery-anchored property.

Office
Hoboken deal is latest partnership for SJP, Japanese developer affiliate

SJP Properties has expanded its partnership with a Japanese real estate giant, selling a majority ownership stake of its newest Hoboken office building to the company’s U.S. investment arm.

The Rundown
Pompton Lakes agency OKs mixed-use redevelopment

Local officials in Pompton Lakes have approved a plan that would bring more than 450 apartments and a host of retail space to its downtown, according to a published report Tuesday.

Health Care & Education
Owner unveils newly upgraded nursing center in Brick

A private equity group has expanded and upgraded a former nursing center in Brick, completing a nearly $3 million repositioning it launched after acquiring the property in late 2014.

Residential & Mixed Use
Three Essex County multifamily towers sell for $27M

Private investors have acquired a set of apartment high-rises in East Orange, paying $27.15 million for nearly 250 units in one of the city’s main thoroughfares.