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.

Professional Services
Veteran broker Schubert joins Lee & Associates New Jersey as partner

Lee & Associates New Jersey has announced the addition of longtime office broker Geoffrey Schubert, adding a 54-year industry veteran to its Elmwood Park-based team.

Professional Services
Gilbane taps Cornick as vice president, New Jersey business unit leader

Gilbane Building Co. has named a new head of its New Jersey office, promoting a longtime team member to the role of vice president and business unit leader in the state.

Office
Silverman Group sells 133,000 sq. ft. Florham Park office campus for $25 million, CBRE says

The Silverman Group has sold a two-building office complex in Florham Park, fetching $24.5 million for the nearly 133,000-square-foot property.

Residential & Mixed Use
Six-building, 132-unit Monmouth apartment complex fetches $29 million, Kislak says

An investor has purchased a 132-unit apartment complex in Keyport for $29 million, under a deal arranged by The Kislak Co. Inc.

Health Care & Education
Freehold medical office building trades for $8.2 million

A real estate investment trust has purchased a medical office building in Freehold for $8.2 million, according to a brokerage team with Physician Real Estate Capital Advisors.

Residential & Mixed Use
New 296-unit Garwood rental property more than 50 percent leased, Russo says

Renters have leased more than 50 percent of a new 296-unit luxury apartment property in Garwood, one of the latest pieces of Russo Development’s vast multifamily platform.

Retail
NAI Hanson: SportsCare takes 2,400 sq. ft. at Bergenfield strip center

A physical therapy chain has leased nearly 2,500 square feet of retail space in downtown Bergenfield, in a newly announced transaction by NAI James E. Hanson.

Industrial
CenterPoint buys 117,000 sq. ft. warehouse in Wayne, NAI Hanson says

CenterPoint Properties has acquired another New Jersey industrial building, adding more than 117,000 square feet in Wayne near the intersection of Route 23 and Interstate 80.

Events
United Way honors Turner’s Romanski alongside Valley Bank lease, Bridge Point 78

The United Way of Northern New Jersey hosted its first in-person Commercial Real Estate Network Legacy Event since 2019, drawing a crowd of 400 while raising more than $365,000 in support of asset-limited, income-constrained, employed individuals.

Industrial
C&W: Two-building Bergen County industrial portfolio sells for $11 million

A local owner and developer has sold a nearly 39,000-square-foot industrial portfolio in Midland Park for $11 million, brokers with Cushman & Wakefield announced Friday.