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.

Retail
7 Brew Coffee eyes new store in Clark with lease at key intersection, Atlantic Coastal says

A coffee chain is expanding in central New Jersey after leasing a vacant bank property in Clark, in a deal arranged by Atlantic Coastal Real Estate and RIPCO Real Estate.

Professional Services
Alban Group promotes Shaw to vice president, Bunker to senior construction manager

The Alban Group has promoted Tim Shaw to vice president and Jake Bunker to senior construction manager, the Newark-based firm announced this week.

Finance & Capital Markets
Marcus: Buyer snags $174 million debt, equity deal for 348-unit Port Imperial rental property

An apartment owner has closed on $174 million in financing and joint venture equity to acquire a 348-unit property in West New York, in a deal arranged by Marcus & Millichap.

Residential & Mixed Use
Investor buys new 77-unit Somerset apartment building for $24 million, Hudson Atlantic says

A private investor has acquired a 77-unit luxury apartment building in the Somerset section of Franklin for more than $24 million, in a newly announced deal by Hudson Atlantic.

Finance & Capital Markets
CBRE: Recycling firm inks $19 million refi for new 124,000 sq. ft. Passaic facility

The owner of a new 124,000-square-foot recycling facility in Passaic has secured an $18.6 million loan for the property, brokers with CBRE announced Tuesday.

Professional Services
Community Builders adds Dorne as senior project manager

Community Builders has hired Harrison Dorne as a senior project manager, in another addition to its Morristown-based team after the firm’s launch last year.

Office
KPMG leases 66,000 sq. ft. at Morristown’s HQ Plaza, slated to move from Short Hills in 2026

KPMG has taken 66,000 square feet at Morristown’s HQ Plaza complex, marking the latest high-profile addition to the town’s roster of major corporate tenants.

Industrial
NAI Hanson: New Jersey industrial vacancy still rising, but could moderate as construction slows in 2025

Industrial vacancy in northern New Jersey rose again in the fourth quarter, as new construction continues to weigh on the market alongside growing sublease space and other factors.

Professional Services
SOCO Construction promotes Perry, 41-year industry veteran, to general superintendent

SOCO Construction Co. has promoted Benjamin Perry to general superintendent, touting his more than four decades in the industry and a passion for building that began as a teenager.

Industrial
Accordia expands to Charlotte with newly acquired, 36,000 sq. ft. light industrial building

Accordia has completed its first acquisition outside the Northeast with the addition of a nearly 36,000-square-foot, shallow-bay industrial building in Charlotte.