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.

Office
JLL: Day Pitney lease comes amid major updates to 176,000 sq. ft. Parsippany office building

A new lease by a top East Coast law firm is now a key piece of a landlord’s plan to reposition a Parsippany office building, the onetime home of a major pharmaceutical company.

Government & Public Policy
Bayonne city council votes to allow 50-story building in key redevelopment area

Officials in Bayonne have taken a key step toward allowing a developer to build a 50-story high-rise along its waterfront, doubling the previous height allowed for any building in the city.

Residential & Mixed Use
Marcus: Value-add 17-unit rental building in Union City trades for $2.1 million

A private investor has purchased a 17-unit apartment building in Union City for more than $2.1 million, brokers with Marcus & Millichap announced Monday.

Industrial
Sayreville industrial outdoor storage site among new acquisitions by Dalfen, Centerbridge

A joint venture has acquired two industrial outdoor properties on the East Coast, including a nearly 1.3-acre site just off Route 9 in Sayreville.

Retail
Delivery platform Wonder takes 3,100 sq. ft. in Green Brook, BRC says

Food delivery startup Wonder has leased 3,100 square feet at a shopping center on Route 22 in Green Brook, in a newly announced deal by Bussel Realty Corp.

Industrial
STRO, KRE and Silverman buy new 236,000 sq. ft. warehouse in Jacksonville

The STRO Cos., Kushner Real Estate Group and The Silverman Group have partnered to acquire nearly 236,000 square feet of newly built industrial space in Jacksonville, Florida.

Industrial
Industrial tenants delaying lease decisions amid capital concerns, despite demand for new space

Industrial tenants are still yearning for the types of modern, high-end logistics spaces that have flooded the market in recent years. When they may actually sign a lease is not nearly as certain.

Professional Services
NAIDB adds veteran broker Harrison as vice president

Retail leasing and sales specialist Jennifer Harrison has joined NAI DiLeo-Bram & Co., bringing more than 20 years of experience to the Woodbridge-based real estate services firm.

Industrial
Ridgecut Road adds 6.5-acre industrial service, outdoor storage asset in New Brunswick

Ridgecut Road has acquired an industrial service and outdoor storage property in New Brunswick, adding 6.5 acres with a combined 39,000 square feet across three buildings.

Finance & Capital Markets
Spencer closes loans for Bridgewater medical office building, Newark housing project

The owner of a medical office building in Bridgewater has secured nearly $8 million in permanent financing, in one of two recent closings by Spencer Savings Bank.