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.

Industrial
Larken inks expansion, new lease in latest deals at Hillsborough industrial park

A contractor has expanded at Larken Associates’ Hillsborough Business Center, where it now occupies more than 6,100 square feet to support its growing operations in the region.

Retail
Azarian: Fitness user takes 2,400 sq. ft. at Ringwood shopping center

A gym with bootcamp-themed classes has leased more than 2,400 square feet at a retail property in northern Passaic County, in a newly announced deal by Azarian Realty Co.

Residential & Mixed Use
Invel Capital buys 70-unit West Orange rental building in $41 million deal by JLL

A joint venture led by Invel Capital has acquired a 70-unit luxury apartment building in West Orange for nearly $41 million, in a transaction arranged and financed by JLL.

Government & Public Policy
EDA approves $359 million Aspire award for new residential, commercial tower at New Brunswick’s HELIX campus

A new project that would bring 265 apartments, office and laboratory space and housing for medical students to the emerging HELIX campus in New Brunswick is moving ahead with a newly approved, $359 million tax credit award under the state’s Aspire program.

Industrial
RRNNJ inks two leases totaling 173,000 sq. ft. to bolster East Hanover industrial park

Saxum Real Estate has filled more than 173,000 square feet with two new leases at an East Hanover industrial park, brokers with Resource Realty of Northern New Jersey said Thursday.

Residential & Mixed Use
Sage: 32-unit Dumont apartment complex trades after 65 years of original ownership

The developer of a 32-unit garden apartment complex in Dumont has sold the property after 65 years, according to a listing team with Sage Investment Real Estate Advisors.

Sponsored Content
A landlord perspective on alternative retail leases: Not your average retail lease

To avoid the so-called “tail wagging the dog,” rooftop owners can avail themselves of certain strategies in structuring rooftop lease deals to minimize risk. This article touches upon a few strategies, including reserve areas and relocation and recapture rights.

Retail
Doren Development acquires Fulton Bank branch in Cherry Hill retail corridor

Doren Development has expanded its footprint in southern New Jersey with the addition of a Fulton Bank branch in Cherry Hill, the firm announced this week.

Current Issue
Owners Council Q&A: Lance Bergstein

The market has really ebbed and flowed over the last 12 months. There were spurts of positive progress coupled with deterrents. I think this recent rate cut will help the macro environment but many of the fundamentals have remained the same. As a whole, the country is in an interesting political environment, which is perhaps more impactful to the economy than raw economic data.

Events
Join us Dec. 9 for The State of Redevelopment: Multifamily and Mixed-Use

Hear the latest in development, tenant demand and other trends in warehouse and logistics space.