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
BRC: Nonprofit ministry buys 85,000 sq. ft. Somerset office building for $4.5 million

A religious organization has acquired a more than 85,000-square-foot office building in the Somerset section of Franklin, in a newly announced deal by Bussel Realty Corp.

Residential & Mixed Use
Investors trade 17-unit Jersey City apartment building in $2.9 million deal, Cushman says

An investor has acquired a 17-unit apartment building in Jersey City for $2.9 million, brokers with Cushman & Wakefield announced Monday.

Finance & Capital Markets
Cooper Horowitz: Self-storage builder lands $14 million construction loan

The developer of a new self-storage facility in Mount Laurel has secured more than $14 million in construction financing, in a deal arranged by Cooper Horowitz.

Technology
JLL: Banking, AI fueling continued growth of New Jersey data center market, despite hurdles

Despite rising energy costs and major capacity shortfalls, New Jersey continues to draw interest as a destination for new data center development.

Government & Public Policy
Murphy supersizes New Jersey community solar program, signs law to add 3,000 megawatts

New Jersey’s pioneering community solar program is poised for a massive expansion under a bill signed into law Friday by Gov. Phil Murphy.

Retail
Discounters, experiential users shine as LMC inks 570,000 sq. ft. in first-half leasing activity

Demand for retail space in the region is strong and steady, according to a prominent real estate services firm, thanks in large part to discount chains and experiential and fitness operators.

Retail
Report: Newark retail market booming with activity, opportunity amid $2 billion in unmet spending power

Newark’s retail market is thriving yet still largely untapped, according to a new report, revealing a chance for businesses to capture the full extent of residents’ $6 billion in spending power.

Industrial
Reports: Hampshire, Invesco sell Teterboro warehouse for $75 million in deal with Principal

Principal Real Estate Investors has acquired a more than 221,000-square-foot warehouse in Teterboro for nearly $75 million, according to published reports this week.

Retail
Kapi Klaw Entertainment leases 5,000 sq. ft. to join Edison shopping center, Chilmark says

The owner of a roughly 40,000-square-foot strip center in Edison has secured its latest tenant, in a newly announced deal by Chilmark Real Estate Services.

Retail
Azarian: Chiropractic, acupuncture office takes 1,300 sq. ft. at Ringwood shopping center

A new health care practice has leased nearly 1,300 square feet at a Passaic County shopping center, according to a brokerage team with Azarian Realty Co.