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.

Top News
Making connections: How Morristown’s HQ Plaza will engage residents, visitors with new public-facing spaces

The renovation of Morristown’s landmark Headquarters Plaza will look to energize the sprawling concourse that connects three office towers, a Hyatt Regency hotel and a host of retailers and restaurants under the roof of the 1 million-square-foot complex. Not to be overlooked is the idea that the refreshed property will also engage the community in a way that it hasn’t in decades, taking cues from the town’s other recent redevelopment projects.

Industrial
Brooklyn-based buyer adds 52,000 sq. ft. Totowa warehouse, Team Resources says

An affiliate of Snowball Developments LLC has acquired a 52,000-square-foot industrial building in Totowa, brokers with Team Resources Inc. announced last week.

Government & Public Policy
Newark Fiber, Andrena partner to bring ultra-fast, low-cost internet to public housing residents

More than 1,600 Newark families living in public housing are getting affordable high-speed internet access as part of an outgrowth of the city’s celebrated Newark Fiber program.

Professional Services
Bravo, Kamath among newest additions to AMHigley’s Morristown team

The Albert M. Higley Co. has continued its expansion in New Jersey with several recent hires on its Morristown-based team.

Retail
Norman’s Hallmark relocates in Ocean Township, debuts 6,400 sq. ft. store on Route 66

Norman’s Hallmark has opened a new full-format store in Ocean Township, where it leases 6,400 square feet at a shopping center on Route 66.

Professional Services
Winslow joins Langan environmental team

Langan has bolstered its environmental practice in the region with the addition of David Winslow as a senior associate.

Retail
Somerset, Monmouth county shopping centers fully leased after LMC-brokered deals

A furniture store has taken nearly 5,800 square feet at a neighborhood shopping center in Franklin Township, in one of two newly announced leases by Levin Management Corp.

Professional Services
Bennett Realty adds gas station, convenience store veteran Albanese

Jeffrey Albanese, a veteran of the gas station and convenience store industry, has joined Bennett Realty & Development as a director, in the latest addition to the Holmdel-based team.

Events
New World Group scores new wins for marketing at national, regional homebuilding shows

Creative agency New World Group is celebrating a series of recent awards for its work in the real estate sector in New Jersey and elsewhere in the region.

Finance & Capital Markets
C&W: LEG inks $54 million construction loan for 204,000 sq. ft. Belleville industrial project

Lincoln Equities Group has landed nearly $54 million in financing to build more than 204,000 square feet of new industrial space in Belleville, brokers with Cushman & Wakefield said.