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.

Retail
Marcus: SITE Centers sells 485,000 sq. ft. Hamilton retail center in deal with Paramount Realty

Paramount Realty has acquired a roughly 485,000-square-foot retail property in Hamilton for more than $100 million, in a newly announced deal by Marcus & Millichap.

Retail
Wick breaks ground on 60,000 sq. ft. retail center at historic Woodbridge intersection

Wick Cos. LLC has broken ground on more than 60,000 square feet of new retail space in Woodbridge that will revitalize a long-vacant property at the junction of routes 1 and 35.

Retail
Mediterranean street food eatery Miznon Kosher opens at Bell Works

The Bell Works campus in Holmdel has welcomed its newest eatery with the debut of Miznon Kosher, a Mediterranean street food concept that’s marking its first New Jersey location.

Industrial
Marcus Partners acquires stake in 1.2 million sq. ft. South Jersey, Pennsylvania light industrial portfolio in recap deal with Camber

Marcus Partners has acquired an interest in a 25-building, 1.2 million-square-foot light industrial portfolio in South Jersey and Pennsylvania.

Professional Services
LAN Associates promotes Webb, Schwenke to vice president

Architecture and engineering firm LAN Associates has promoted Matthew Webb and Ron Schwenke to the position of vice president.

People
J.G. Petrucci hires Duffy as newest project executive

J.G. Petrucci Co. Inc. has bolstered its development team with the addition of Michael Duffy as a project executive.

Residential & Mixed Use
Woodmont breaks ground on 120 townhomes, apartments in latest Lehigh Valley project

Woodmont Properties has broken ground on the second piece of a luxury rental property in Pennsylvania’s Lehigh Valley, with plans to build another 120 homes on a 14-acre site.

Community
REDCOM joins United Way of Greater Union County to unveil new Rahway headquarters

The United Way of Greater Union County has opened its new headquarters in Rahway after a nearly six-month renovation of a former Elizabethtown Gas Co. building.

Editor’s Note
The right mix

It may well be decades before New Jersey’s suburban office market is no longer overbuilt. That is, of course, assuming that property owners and local officials find the type of common ground needed for redevelopment, as we try to highlight when we come across those stories. We have one such example in our latest issue.

Industrial
Hillwood taps Drysdale as EVP and leader in Northeast, Midwest regions

Hillwood Investment Properties has appointed Justin Drysdale as executive vice president and regional leader for its Northeast, Mid-Atlantic and Midwest markets.