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.

Professional Services
Tokarski Millemann picked to design three-building, 34,000 sq. ft. retail project in Jackson

The developer of what would be more than 30,000 square feet of new retail space in Jackson has tapped Tokarski Millemann Architects for the project.

Retail
BRC: Walk-in pet clinic takes 1,000 sq. ft. in Paramus

A growing pet wellness franchise has leased 1,000 square feet of retail space in Paramus, brokers with Bussel Realty Corp. announced Monday.

Residential & Mixed Use
New boutique Hudson County apartment building fetches $400,000 per unit, Kislak says

A developer has sold a recently completed, 13-unit apartment building in West New York for more than $400,000 per unit, in a newly announced deal by The Kislak Co. Inc.

Professional Services
Cervelli makes key additions to property management, sales teams

Cervelli Real Estate and Property Management has made three personnel moves to support its growing business in Hudson County and beyond.

Retail
LMC survey: Brick-and-mortar retailers see continued momentum, expansion in 2023

Brick-and-mortar retailers are largely optimistic about their prospects this year, according to an annual survey by Levin Management Corp., amid easing concerns about labor shortages and momentum built during a strong 2022.

Industrial
Velocity sells 48,000 sq. ft. Camden County industrial building for $4.2 million

Velocity Venture Partners has sold a Camden County industrial building for $4.2 million, in a deal that comes less than three years after it purchased the 48,000-square-foot facility.

Sponsored Content
Apartment design, development evolving to meet growing pool of renters by choice

More U.S. households are renting apartments now, than at any point in the past 50 years, according to the PEW Research Center. Many of today’s renters do so by choice, citing greater flexibility in lifestyle, liquidity and maintenance. Increased mortgage rates, rising inflation and uncertain economic times all help to bolster the current multifamily rental market. While apartment leasing itself is forecasted to remain strong in 2023, the resident experience continues to evolve to better meet the needs of a growing population of renters by choice.

Residential & Mixed Use
Veteran multifamily executive Penn kicks off two-year term as NJAA president

The New Jersey Apartment Association has elected a long-serving member and longtime property management executive in the state as its newest board president.

Professional Services
Stein, Lundy named directors with JLL investment sales team

JLL has added two directors to its Morristown-based investments sales team after a pair of recent promotions.

Retail
MSC: Developer sells 10,000 sq. ft., net-leased daycare building in Cinnaminson

A developer has sold the site of a net-leased daycare facility along Route 130 in Burlington County, brokers with MSC Retail Inc. announced Thursday.