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
Brooklyn startup offered $32 million tax credit to move to former Roche campus

The state has offered a $32.3 million tax credit to a Brooklyn-based biotech firm that is considering a move to the former Hoffmann-LaRoche campus in northern New Jersey.

Residential & Mixed Use
Livingston rental community off to fast start, developer says

Renters have responded to a 220-unit apartment complex that is taking shape in Livingston, where the second of five buildings is on its way to becoming fully leased.

Government & Public Policy
Architecture firm completes Union County family courthouse project

Union County officials have cut the ribbon on a new 78,000-square-foot courthouse and family justice center in Elizabeth, marking the completion of a project designed by Netta Architects.

Retail
Massage Envy, European Wax join Linden retail center

A prominent shopping center on Route 1 in Linden is set to welcome a Massage Envy and a European Wax location, under leases brokered by Jeffery Realty.

Retail
Kimco: New small-format Target store planned for South Jersey retail center

Target has leased 48,000 square feet in Haddon Township, where one of the company’s new small-format stores will anchor a repositioning project being overseen by Kimco Realty Corp.

Finance & Capital Markets
Meridian brokers $70 million loan for Somerset’s Bell Works project

Investors Bank is providing a $70 million loan to Somerset Development for its landmark Bell Works project in Holmdel, under a financing deal negotiated by Meridian Capital Group.

Government & Public Policy
Colliers set to market aviation research park in Atlantic County

Atlantic County officials have hired Colliers International Group to market the first piece of the new Stockton Aviation Research and Technology Park, the firm announced.

Retail
Walgreens in West Milford trades for $10.6 million

A private investor has paid more than $10.6 million for a triple-net-leased Walgreens property in West Milford, according to brokers with Marcus & Millichap who arranged the deal.

Office
Onyx, Rubenstein sell repositioned Basking Ridge building for $98.5 million

A joint venture has sold a 306,000-square-foot office building in Somerset County for nearly $100 million, following a sweeping renovation that modernized the 40-year-old property and attracted a global pharmaceutical company as a headquarters tenant.

Residential & Mixed Use
Westfield apartment project is a milestone for developers, local officials

There is no doubting the appeal of a site that is less than a block from a train station and in the heart of downtown Westfield, one of New Jersey’s most acclaimed shopping districts. But if you ask executives with The Hampshire Cos., a good location isn’t a guarantee of success.