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
Mixed-use portfolio in Morris Plains trades for $2 million, JLL says

The longtime owner of two mixed-use buildings and a warehouse in Morris Plains has sold the portfolio for $2 million, in a newly announced deal by JLL.

Government & Public Policy
Trenton Housing Authority names co-developer for North Trenton revitalization plan

The Trenton Housing Authority has tapped Property Resources Corp. as its co-developer for a plan that would bring more than 500 new homes to the city’s Battle Monument neighborhood.

Retail
Sherwin-Williams takes 3,200 sq. ft. on Route 17 in Ramsey, Goldstein Group says

Sherwin-Williams has leased more than 3,200 square feet of highway retail space in Ramsey, brokers with The Goldstein Group announced Monday.

Residential & Mixed Use
URW, Mill Creek reveal new details of plan to transform Westfield Garden State Plaza

The owner of Westfield Garden State Plaza in Paramus is offering a fresh look at its plan to reimagine the iconic mall, as it prepares for a late 2024 groundbreaking at the 30-acre site.

Residential & Mixed Use
Russo unveils final rental building in Union, completing more than 1,200 units at ex-Merck site

Russo Development has marked the opening of more than 300 new luxury apartments in Union Township, the final piece of a sweeping plan to transform a 42-acre former Merck & Co. campus adjacent to Kean University.

Industrial
RIPCO: Rug, home décor business inks 15,000 sq. ft. industrial lease in North Brunswick

A rug and home décor retailer has leased 15,000 square feet of industrial space in North Brunswick, in a newly announced deal by RIPCO Real Estate.

Industrial
Biopharma firm expands to 5,800 sq. ft. in downtown Jersey City, Equity says

A biopharmaceutical company has renewed its lease and expanded in downtown Jersey City, where it now occupies more than 5,800 square feet.

Professional Services
JLL names new associate vice president for New York metro life sciences team

JLL has added to its life sciences team in the region with one of its newest broker hires.

Sponsored Content
The tax impacts of debt: What owners and investors should know

Leverage is an important instrument for real estate owners and investors. Utilizing leverage appropriately can help enhance returns, build a diversified portfolio, strategically enter the market, and provide tax benefits. As the capital markets have become increasingly challenging, many lenders are requiring guarantees by the mortgagors. The use of a guarantee can drive surprising tax results. This article will concentrate on how mortgage debt affects the tax basis of acquired property, as well as the investment basis of real estate owners and investors in partnerships (note that real property held in different types of entities may yield varied outcomes).

Office
Gilead’s new Parsippany office is a hub of collaboration and comfort — with a purpose

Gilead Sciences has opened its new 96,000-square-foot East Coast hub at Parsippany’s Latitude campus, touting a space that will foster innovation and creativity while helping employees transition back to the office.