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
Reports: Hartz scraps plan for logistics park, open space at sprawling Hercules site on I-80

Hartz Mountain Industries reportedly has dropped its plan to build a 2.5 million-square-foot industrial park in Roxbury — one that also called for hundreds of acres of open space — following considerable pushback from a contingent of local officials, residents and others.

Residential & Mixed Use
Kushner kicks off long-awaited 360-unit project with Colts Neck’s first-ever apartments

Kushner has broken ground on a project that will bring 360 new apartments to Colts Neck, part of a sprawling, at times contentious development that is nearly 20 years in the making and will deliver the township’s first multifamily rentals.

Retail
Acadia, Fortress sell 153,000 sq. ft. Paramus retail center for $37 million, C&W says

A joint venture has sold a retail center on Route 17 South in Paramus for nearly $37 million, in a newly announced deal by Cushman & Wakefield.

Retail
Dollar Tree leases 6,100 square feet at Sanzari-owned retail center in Hackensack

A new Dollar Tree is coming to Hackensack after leasing nearly 6,100 square feet at Alfred Sanzari Enterprises’ Summit Plaza property off Route 17.

Office
AT Information Products takes 5,760 sq. ft. flex office space in Mahwah

Inkjet printing company AT Information Products Inc. has leased 5,760 square feet of flex office space in Mahwah, in a deal negotiated by NAI James E. Hanson.

Retail
Montvale Liquors, a 4,700 sq. ft. boutique store, to open on South Kinderkamack Road

Montvale Liquors, a 4,700-square-foot boutique store, will open at the CVS Center on South Kinderkamack Road in Montvale, Levin Management Corp. announced.

Industrial
Investment firm appears to enter New Jersey market with Camden County industrial deal

Real estate investment firm GID has acquired more than 110,000 square feet of vacant industrial space outside Camden, with plans to renovate the building to attract new tenants.

Retail
Grocer eyes new flagship location in Edison after buying iconic Sam Ash store, NAIDB says

A specialty grocer has acquired the longtime home of the shuttered Sam Ash Music store in Edison for $5.5 million, in a newly announced deal by NAI DiLeo-Bram & Co.

Deals
Zimmel inks sale of 13,000 sq. ft. East Brunswick medical building

Zimmel Associates has brokered the sale of a 13,336-square-foot medical building in East Brunswick to Avatar Residential Detox Center for $2.1 million, the firm announced Tuesday.

Professional Services
Zimmerman elected to board of N.J. State Bar Association Land Use Law Section

Evan Zimmerman, a shareholder at Red Bank-based Giordano, Halleran & Ciesla PC, was recently elected to the board of directors of the New Jersey State Bar Association’s Land Use Law Section.