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
Insurer, physical therapy practice buy Holmdel office condos, Sheldon Gross says

Two office condominium units in Holmdel have changed hands for a combined $925,000, in a set of deals arranged by Sheldon Gross Realty.

Industrial
BRC: Auto export firm expands to Baltimore, leases 2.7-acre industrial property

An automobile exporter has leased a 2.7-acre industrial property near the Port of Baltimore, in a newly announced deal by Bussel Realty Corp.

Top News
Ferber eyes 1.9 million sq. ft. industrial park, retail space at ex-Burlington Center Mall site

A real estate firm has unveiled its plans for a three-building, 1.9 million-square-foot industrial park and 30 acres of retail space at the former site of the long-vacant Burlington Center Mall.

Industrial
CBRE: Global Courier Express takes 160,000 sq. ft. at Kearny Point

A shipping and logistics company has leased more than 160,000 square feet across two buildings at Hugo Neu’s Kearny Point Industrial Park, brokers with CBRE announced Friday.

Residential & Mixed Use
Cervelli brokers sale of 17-unit Passaic apartment building

A private investor has purchased a 17-unit apartment building in Passaic, in an off-market deal by Cervelli Real Estate & Property Management.

Office
HVAC contractor signs 2,900 sq. ft. renewal for Hackensack headquarters, C&W says

An HVAC contractor has renewed its nearly 3,000-square-foot lease at a Hackensack office building, according to brokers with Cushman & Wakefield.

Residential & Mixed Use
Prime City breaks ground on two affordable housing projects in Orange

Development firm Prime City has started construction on two projects in Orange that will bring a combined 13 units of affordable housing to the municipality.

Government & Public Policy
Murphy picks DCA’s Suárez, head of local government services, as agency’s next chief

Gov. Phil Murphy has announced his choice to lead the state Department of Community Affairs after the death of Lt. Gov. Sheila Oliver, who had led the agency since taking office in 2018.

Residential & Mixed Use
New 45-unit rental building in Journal Square trades for $18 million, Marcus says

A developer has acquired a newly built, 45-unit apartment building in Jersey City’s Journal Square section for $17.7 million, in a deal arranged by Marcus & Millichap.

Professional Services
Bennett Realty adds retail specialist as vice president with Holmdel-based team

Bennett Realty & Development has hired a retail specialist as the latest addition to its Holmdel-based brokerage team.