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.

Cover Story
Downtown demand: Developer aims to bring highly coveted, high-end office space to Montclair business district

BDP Holdings has unveiled plans to bring new high-end office space to Montclair as part of a 130,000-square-foot ground-up project, seeking to capture the growing demand for space in downtowns that are easily accessed by the state’s skilled suburban labor pool.

Residential & Mixed Use
EDA pledges $200 million Aspire tax credit for mixed-use ‘NJPAC District’ project in Newark

A sweeping plan to expand the New Jersey Performing Arts Center campus in Newark has secured a 10-year, $200 million tax credit award under the state’s Aspire program, in a key step for a project that would include 350 apartments and new commercial and community spaces.

Health Care & Education
Lee & Associates: Bridgewater medical office, surgery center asset fetches $10.5 million

A local operator has acquired a medical office and surgery center property in Bridgewater for $10.5 million, brokers with Lee & Associates New Jersey announced Wednesday.

Retail
Tokarski Millemann spearheads redesign, expansion of Lakewood Mazda dealership

An auto dealer has unveiled an expanded and updated sales and showroom facility in Lakewood as part of a project designed by Tokarski Millemann Architects.

Retail
Mexican eatery takes 900 sq. ft. at Pine Brook Plaza in Montville, Azarian says

A new Mexican restaurant has come to Montville after leasing space at a Route 46 shopping center, in a newly announced transaction by Azarian Realty Co.

Industrial
March Construction set to break ground on new 70,000 sq. ft. industrial building in Wayne

Construction is set to begin on nearly 70,000 square feet of new industrial space in Wayne, helping to repurpose a site that’s long housed a storage yard for trucks and other equipment.

Events
ULI Northern New Jersey unveils honorees for April awards gala

The Urban Land Institute’s Northern New Jersey chapter has announced the winners of its 2024 Excellence Awards, highlighting a host of projects and professionals involved in land use and development in the state.

Professional Services
Lebersfeld, Rosen join Genova Burns litigation team

Genova Burns LLC has announced two additions to its litigation team that it expects will support clients in construction and other industries.

Health Care & Education
NAI Hanson: Three tenants combine for 9,400 sq. ft. at Kearny medical office building

A medical office building in Kearny has welcomed three new tenants after a set of leases totaling more than 9,400 square feet, brokers with NAI James E. Hanson announced Tuesday.

Health Care & Education
DIGroup joins New York Medical College to open redesigned 19,000 sq. ft. research space

New York Medical College has unveiled a newly renovated research space in Westchester County as part of a project designed by New Brunswick-based DIGroup Architecture.