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
Sumitomo Mitsui Trust signs new lease, relocates in SJP’s Waterfront Corporate Center

Sumitomo Mitsui Trust Bank has signed a new 30,000-square-foot lease in Hoboken that has allowed it to relocate within SJP Properties’ Waterfront Corporate Center I.

Office
Keystone sells 54,000 sq. ft. Woodcliff Lake office building for $9.8 million, CBRE says

Keystone Property Group has sold a nearly 54,000-square-foot office building in Woodcliff Lake for $9.8 million, brokers with CBRE announced Tuesday.

Industrial
NAI Hanson: YMCA leases 10,000 sq. ft. for Sussex County’s first standalone pickleball center

A new pickleball center is coming to Sussex County as part of a recently completed industrial flex lease arranged by NAI James E. Hanson.

Retail
Dance school takes 2,800 sq. ft. at Larken-owned shopping center in Springfield

Larken Associates is welcoming a new tenant to its Echo Plaza Shopping Center in Springfield after inking a nearly 3,000-square-foot lease with a dance school.

Industrial
Hamilton flex industrial parcel finds new owners as JLL arranges sale, capitalization

Saxum Real Estate has acquired and secured both equity and financing for a 16-acre flex industrial property in Hamilton, following a series of transactions arranged by JLL.

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.