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: Net-leased 7-Eleven convenience, gas property in Freehold trades for $4.7 million

A local investor has purchased a net-leased 7-Eleven property in Freehold for $4.7 million, in a deal arranged by Marcus & Millichap.

Office
CBRE: Eastman inks 12,000 sq. ft. lease in Livingston with national law firm Gordon Rees

Eastman Cos. has secured a new tenant for a prominent office property in Livingston, leasing nearly 12,000 square feet to a national law firm.

Office
Princeton Eye Group buys 10,000 sq. ft. building for new Somerset office, PPP says

Princeton Eye Group has acquired a nearly 10,300-square-foot office building in the Somerset section of Franklin, brokers with Princeton Property Partners announced recently.

Retail
Investor buys 20,000 sq. ft. Flemington strip center for $3.2 million, BRC says

A fully leased, 20,000-square-foot strip center in Flemington has changed hands for more than $3 million, in a newly announced deal by Bussel Realty Corp.

Community
New gallery for Newark Arts opens at Russo’s Vermella Broad Street project

Russo Development has opened the doors to a new year-round art gallery at the base of Vermella Broad Street, a 296-unit luxury apartment property that opened earlier this year.

Government & Public Policy
DCA issues affordable housing guidelines to address present, future deficit of 150,000 units

The state has released its highly anticipated guidelines for each municipality’s affordable housing obligations, following the adoption of a law earlier this year that sought to streamline the complex, often controversial process that has vexed policymakers for decades.

Industrial
Ambient Capital taps Blau & Berg to lease 650,000 sq. ft. industrial complex in Harrison

The new owner of some 650,000 square feet of industrial space in Harrison and Kearny has picked The Blau & Berg Co. as its leasing team for the complex.

Finance & Capital Markets
BLP lands $10.3 million construction loan for 76,000 sq. ft. warehouse project in Somerset

Bridge Logistics Properties has secured some $10.3 million in construction financing for more than 76,000 square feet of new industrial space in the Somerset section of Franklin.

Retail
Honeygrow opens in Bridgewater as stir fry, salad chain grows to eight New Jersey stores

Stir fry and salad restaurant honeygrow has opened the doors to a new store in Bridgewater, marking the eighth New Jersey location for the Philadelphia-based chain.

Events
NAIOP New Jersey unveils 2024 President’s Awards honorees, plans new format

NAIOP New Jersey will honor its volunteer leaders and other key contributors next month as the commercial real estate group hosts its annual President’s Awards and Hall of Fame Reception.