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.

Industrial
Thor completes $18.3 million sale-leaseback for 112,000 sq. ft. industrial building in Elizabeth

Thor Equities Group has acquired nearly 112,000 square feet of industrial space in Elizabeth as part of a sale-leaseback valued at $18.3 million.

Office
Deluccia: Somerset County Business Partnership takes 6,200 sq. ft. in downtown Somerville

The Somerset County Business Partnership has found a new home after leasing nearly 6,200 square feet in downtown Somerville, according to a team with Deluccia Commercial Group.

Residential & Mixed Use
Eight-unit rental project in Dunellen wins planning board approval, Taylor Architecture says

A developer is moving forward with plans for a new eight-unit apartment building in Dunellen, having secured an approval late last month from the borough’s planning board.

Industrial
CBRE inks sale of 70,000 sq. ft. Conshohocken warehouse for $2.9 million

An investment firm has purchased a 70,000-square-foot industrial property outside Philadelphia for nearly $2.9 million, in a newly announced deal by CBRE.

Government & Public Policy
EDA looks to buy NJ Transit land sites under new legislative proposal, providing cash infusion while spurring development near train stations

State officials have unveiled a new plan to help NJ Transit monetize its real estate holdings, announcing a proposal in which it would sell properties to a fellow agency that it says is better equipped to market them for development.

Residential & Mixed Use
Russo, Hampshire debut 425-unit final phase of Hackensack’s Print House campus

The developers of the high-profile Print House project in Hackensack have completed its second phase, bringing another 425 luxury apartments to the city’s largest new residential property.

Professional Services
T&M Associates hires longtime finance, operations executive Lange as CFO

Professional services firm T&M Associates has welcomed Carolyn Lange, an accomplished finance and operations executive, as its new chief financial officer.

Hospitality & Tourism
JLL: Cardinale seeking partners for massive Adventure Crossing project in Jackson

Cardinale Enterprises is seeking equity partners for a three-phase, 222-acre project in Jackson where plans call for a new convention center, two hotels and hundreds of residential units alongside a host of existing retail space and athletic facilities.

Government & Public Policy
Developer of 1.5 million sq. ft. Bayonne studio complex secures $400 million Aspire award

The state has approved a 10-year, $400 million tax credit award in connection with plans to build a 1.5 million-square-foot film and television studio complex on the Bayonne waterfront.

Professional Services
Garlick, Lyons join MSW to expand firm’s real estate development, construction law teams

Murphy Schiller & Wilkes LLP has further bolstered its team of real estate attorneys with the addition of Thomas S. Garlick as counsel and Robert M. Lyons as an associate.