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.

Office
Eastman, RWJBarnabas ink 12,000 sq. ft. office lease in Livingston, CBRE says

Eastman Cos. and RWJBarnabas Health have signed a long-term lease for nearly 12,000 square feet of office space in Livingston, brokers with CBRE announced Monday.

Retail
Marcus: Site of shuttered diner in Lyndhurst sells for $2.9 million

The site of the shuttered Lyndhurst Diner at the western edge of the township has traded for $2.9 million, in a transaction arranged by Marcus & Millichap.

Health Care & Education
Rutgers Center for Real Estate adds Dynamic Engineering as corporate sponsor

The Rutgers Center for Real Estate has welcomed Dynamic Engineering Consultants PC as its newest corporate sponsor.

Industrial
BRC: Construction tech firm enters New Jersey with 12,000 sq. ft. lease in South Plainfield

A construction technology firm has signed a full-building, 11,500-square-foot industrial lease in South Plainfield, in a newly announced deal by Bussel Realty Corp.

Industrial
Hilco taps JLL’s Northeast industrial team for 1,300-acre logistics, innovation park in Philly

The firm behind what will be a massive logistics and innovation campus in Philadelphia has tapped JLL as its leasing agent for the site, including a first phase that will create more than 1 million square feet of high-end warehouse and distribution space.

Industrial
NAIDB: Service Truck Tire Center buys 67,000 sq. ft. Linden facility for $21 million

A commercial tire business has acquired a nearly 70,000-square-foot industrial building in Linden for $21 million, in a newly announced deal by NAI DiLeo-Bram & Co.

Residential & Mixed Use
CrownPoint eyes 125-unit rental project after closing on Randolph development parcel

CrownPoint Group has acquired a nearly 15-acre development site in Randolph that is fully approved for 125 upscale apartments and townhomes.

Finance & Capital Markets
Provident inks $19 million construction loan for Newark self-storage project, JLL says

A development team has landed a $19 million construction loan for a 1,332-unit self-storage project in Newark’s Ironbound section, according to a debt placement team with JLL.

Retail
Former bank branch on Route 46 in Parsippany trades for $3 million, Kislak says

A local property owner has acquired a former bank branch property in Parsippany for $3 million, brokers with The Kislak Co. Inc. announced Friday.

People
STRO taps Otterbein, veteran of top New Jersey real estate firms, as controller

The STRO Cos. has hired a longtime commercial real estate industry executive in New Jersey as its new controller.