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.

Hospitality & Tourism
Pru Center unveils plans for Grammy museum in Newark

An 8,000-square-foot Grammy museum is coming to the Prudential Center, creating a new cultural destination for the Newark arena as it continues to grow its offerings in the city.

Office
LG breaks ground on long-awaited HQ in Englewood Cliffs

LG Electronics has broken ground on its new North American headquarters in Englewood Cliffs, a project that is more than seven years in the making after protests, zoning changes and negotiations with residents and conservationist groups.

Top News
Ripco tapped to lease retail space at mixed-use Bloomfield project

The developer of a recently completed, mixed-use redevelopment project in Bloomfield has hired Ripco Real Estate to oversee leasing for the retail portion of the property.

Industrial
Blue Apron: 495K sq. ft. Linden facility to open this year

Blue Apron has taken the wraps off its new 495,000-square-foot fulfillment center in Linden, where the meal kit delivery service plans to employ more than 2,000 people in the year ahead.

Hospitality & Tourism
Icahn to sell Trump Taj Mahal after spat with lawmakers, despite Christie veto

Billionaire investor Carl Icahn, seemingly frustrated by legislation that would have stripped him of his casino license, says he will sell the shuttered Trump Taj Mahal in Atlantic City.

Office
Colliers: Fintech firm, others drawn to new-look office building

Brokers with Colliers International have leased more than 50,000 square feet at a Union office building, less than a year after taking over marketing for the repositioned complex.

Professional Services
Design firm names partners for the first time

Five top executives at DMR Architects are now partners in the business, marking a new milestone in the 25-year history of the Hasbrouck Heights-based firm.

Professional Services
Vineland architect takes up national AIA post

The New Jersey chapter of the American Institute of Architects has named Bruce Turner to a three-year term as regional representative to the group’s National Strategic Council.

Industrial
After record year, panelists still bullish (but cautious) on N.J. industrial sector

The state’s industrial market is firing on all cylinders, but just how long will it last? A panel of leading owners and brokers tackled that very question last week, gauging everything from rental rates to the demand from institutional investors. And while the recent political turmoil has created some uncertainty, they said New Jersey’s location and the growth of so-called last mile distribution needs will ensure the market’s continued strength in the year ahead.

Office
Onyx, NGKF plan repositioning of Morris County office building

Large-scale upgrades are coming to an office building just outside downtown Morristown, in what will be Onyx Equities’ latest project to reposition an aging commercial property.