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
Colliers: Mount Laurel warehouse sells for $5.65 million

A South Jersey real estate firm has sold a 106,000-square-foot industrial building in Mount Laurel for $5.65 million, according to brokers with Colliers International Group.

Office
JLL report shows continued gaps in rents, vacancy between N.J. transit hubs and suburbs

Suburban office landlords who spruce up their buildings have seen tenants come calling, but continue to trail those offering space in urban locations and those served by mass transit.

Finance & Capital Markets
Bergen County rental complex refinances for $147 million

New York Life Real Estate has originated a nearly $147 million loan for an owner to refinance a 100-unit garden apartment complex in Bergen County, the company announced.

Retail
LMC: New 20,000 sq. ft. retail center coming to Union

A new neighborhood retail center is set to rise in one of Union’s main thoroughfares, according to executives with Levin Management Corp. who are overseeing the project.

Industrial
Bussel brokers $850,000 sale of Middlesex industrial property

The owner of a transportation company has paid $850,000 for a 14,000-square-foot industrial building in Middlesex County, according to a broker with Bussel Realty Corp.

Retail
With construction underway once again, Christie touts economic impact of American Dream

The massive American Dream project is “progressing vigorously” in East Rutherford, Gov. Chris Christie proclaimed Monday, as he visited the site and sought to promote the outsized economic impact of the long-stalled retail and entertainment complex.

Professional Services
CBRE hires veteran N.J. office, data center broker

A well-known broker in the state has joined CBRE as a senior vice president in its central New Jersey office, the real estate services firm said Monday.

Office
Larken Associates acquires 90,000 sq. ft. building in Branchburg

A real estate firm has added to its portfolio in its hometown of Branchburg, acquiring a 90,000-square-foot office complex along Route 22.

Industrial
NAI Hanson: Logistics firm expands into Meadowlands industrial building

A national transportation and logistics firm has leased nearly half of a 53,000-square-foot industrial building in the Meadowlands, according to brokers with NAI James E. Hanson.

Editor’s Note
A growth area in the making?

We set out this month to look at the role of technology companies in New Jersey’s office market. The tech sector certainly isn’t the dominant industry in the state’s economy, but it has provided a rare source of job growth in the last few years that has resulted in new office requirements. We’ve seen companies such as Audible, iCIMS and Jet.com lease space in New Jersey thanks to both state incentives and the type of organic growth that landlords would love to see continue.