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.

Government & Public Policy
With a new name, mixed-use park around Prudential Center moves forward

Public officials and business leaders gathered Wednesday to unveil new details about plans to transform the surface lots around the Prudential Center into a dynamic, mixed-use park area that connects Newark Penn Station to the city’s downtown and Ironbound neighborhoods.

Government & Public Policy
Experts dissect, gauge impact of affordable housing ruling

A ruling by the state Supreme Court on Wednesday is being hailed as a victory for affordable housing advocates and developers, but reaction from other experts and stakeholders was mixed, as they worked to understand what the decision would mean going forward.

Industrial
Colliers: $25M industrial deal includes South Jersey property

A real estate investment trust has acquired a nearly 200,000-square-foot industrial property in Swedesboro as part of a recent two-building deal, two-state deal.

Government & Public Policy
N.J. Supreme Court rules towns must count ‘gap years’ in affordable housing obligations

New Jersey towns and cities must account for more than 15 years of unmet need in determining their affordable housing obligations, the state Supreme Court has ruled, paving the way for the development of tens of thousands low- and moderate-income units statewide.

Hospitality & Tourism
Well-known Somerset County hotel sold for $30 million, HFF says

A real estate investment firm has sold a Somerset County hotel for $30 million, a decade after acquiring the property through a partnership with a former hospitality company.

Industrial
Joint venture acquires 50,400 sq. ft. Branchburg warehouse

Two Elizabeth-based developers have partnered once again, this time acquiring a Branchburg industrial building that serves as a FedEx distribution center.

Office
Multistate platform drives 2016 leasing for Denholtz

Denholtz Associates recorded some 1 million square feet of leasing activity in 2016, including about 700,000 square feet in New Jersey and a deal with a major publishing company in Florida.

Professional Services
Point Pleasant-based architect named AIA-NJ president-elect

The New Jersey chapter of the American Institute of Architects has installed Verity L. Frizzell as its president-elect, the organization announced.

Government & Public Policy
How could a Trump administration affect CRE in New Jersey? Experts weigh in

With inauguration day on the horizon, there has been no slowdown in speculation over how a Donald Trump presidency will impact the commercial real estate sector.

Retail
Aberdeen tax breaks aim to spur investment on Route 35

Local officials in Aberdeen have unveiled new incentives to encourage new commercial development and improvements to existing buildings around the township’s Route 35 corridor.