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.

Guest Columns
A new approach to housing policy where everyone wins

As New Jersey’s gubernatorial race heats up, housing remains a critical issue. Everyone agrees that we need more market-rate and affordable housing to meet demand, and there is also a consensus that housing prices in New Jersey are too high. But what can the government do differently to address these issues? Policymakers and our next governor need to acknowledge that current government policies are exacerbating these problems, not solving them.

Retail
Marcus: Value-add investor buys 43,000 sq. ft. Hamilton retail center for $8.3 million

A private investor has purchased a nearly 43,000-square-foot retail property in Hamilton for more than $8.3 million, in a newly announced deal by Marcus & Millichap.

Food & Beverage
Pierson Commercial named agent for restaurant, liquor license in downtown South Orange

The owner of a restaurant and liquor license in downtown South Orange has tapped Pierson Commercial to market the property for sale or lease.

Office
Furniture X-Change taps Theo Silverberg as president, seeks continued expansion

The Furniture X-Change, a provider of sustainable office furniture solutions, has appointed longtime team member Theo Silverberg as its new president.

Finance & Capital Markets
JLL: Oliver Street Capital lands $22 million acquisition loan for South Plainfield IOS site

An investment firm has secured more than $22 million in acquisition financing for a set of industrial outdoor storage properties in South Plainfield, brokers with JLL announced.

Industrial
Blau & Berg: Yankee Line acquires former Coach USA office, garage facility in Elizabeth

Coach USA has sold a nearly 44,000-square-foot garage and office property in Elizabeth to a fellow transportation company, in a deal arranged by The Blau & Berg Co.

Office
Haddon Township commercial building trades in deal by Vantage Commercial

A local business has acquired a nearly 7,400-square-foot commercial building in Haddon Township, according to a brokerage team with Vantage Commercial.

Office
Inspired by Somerset Development buys 277,000 sq. ft. Commvault headquarters in Tinton Falls, plans new Bell Works-style facility

Inspired by Somerset Development has acquired the Tinton Falls headquarters of cybersecurity firm Commvault, with plans to repurpose the building as a new phase of its landmark Bell Works campus in nearby Holmdel.

Government & Public Policy
Tantleff sworn in for second term as NJBA chair, joining six fellow board members

The New Jersey Builders Association has installed Debra Tantleff as its chair for a second term, as it prepares for the rollout of the state’s new affordable housing law and other key policies.

Office
Onyx, PCCP sell revitalized 439,000 sq. ft. office building near Morristown, C&W says

Onyx Equities and PCCP have sold a 439,000-square-foot office building outside Morristown — reportedly for $118.5 million — following nearly a decade of ownership and an ambitious plan to rejuvenate the property.