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
Nine towns challenge N.J. affordable housing law in new lawsuit led by Montvale

Nine towns are suing to block New Jersey’s new affordable housing law, arguing it imposes excessive mandates on municipalities without fully considering local conditions and resources.

Office
REIT sells 90,000 sq. ft. Tinton Falls office building for $15 million, JLL says

A real estate investment trust has sold a 90,000-square-foot office building in Tinton Falls for nearly $15 million, in a newly announced deal by JLL.

Professional Services
March Construction promotes Hewitt to project executive

March Construction has promoted Gregory Hewitt to project executive, touting his more than 30 years of expertise in land development and residential and commercial projects.

Residential & Mixed Use
Hornrock unveils 130-unit rental property, retail building in northern Bergen County

Leasing is underway at Hornrock Properties’ newest luxury multifamily project, a 130-unit rental property in the Bergen County borough of Old Tappan.

Retail
BRC: Basketball training center takes 8,000 sq. ft. at Toms River shopping center

A basketball training center has leased more than 8,000 square feet at a Toms River shopping center, according to a brokerage team with Bussel Realty Corp.

Industrial
Resource Realty named leasing agent for shovel-ready industrial sites in Orange County

A developer has tapped Resource Realty of Northern New Jersey as its leasing team for two shovel-ready industrial parcels in New York’s Orange County, seeking tenants for facilities totaling more than 486,000 square feet.

Health Care & Education
New 127,000 sq. ft. lease with biotech firm among latest deals by Lincoln Equities Group

Lincoln Equities Group has secured another tenant for its Princeton West Innovation Campus in Hopewell, inking a 127,000-square-foot lease with a locally based biotech company.

Photos
Devco tops out $732 million first phase of HELIX campus in New Brunswick (PHOTOS + VIDEO)

New Brunswick Development Corp. on Friday welcomed a crowd of public officials and other well-wishers to the site of its high-profile HELIX project, joining a large team of laborers to top out the first of three buildings at the planned life sciences and technology campus.

Finance & Capital Markets
Cronheim: Clifton’s Styertowne Shopping Center refis for $20 million, with updates underway

The owner of the historic Styertowne Shopping Center in Clifton has refinanced the grocery-anchored property for $20 million, brokers with Cronheim Mortgage said last week.

Finance & Capital Markets
Litwack joins Marcus & Millichap Capital Corp. as managing director in New Jersey office

Marcus & Millichap is expanding its capital markets financing arm in New Jersey with the hiring of Mark Litwack as a managing director.