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.

Government & Public Policy
Gutierrez-Scaccetti to NAIOP: Warehouse fee would fund much-needed truck traffic planning

Business groups have lined up against Gov. Phil Murphy’s proposal to charge a fee on warehouses for each truck they receive, but a top state official said the levy is needed to address a chronic lack of traffic planning around new industrial developments.

Residential & Mixed Use
BNE launches leasing at 400 rentals in West Orange, bringing new life to ex-office property

BNE Real Estate Group has taken the wraps off more than 400 luxury apartments as part of a sprawling redevelopment project in West Orange.

Residential & Mixed Use
HVPG details newly completed, $71 million rehab of Jersey City senior housing property

Hudson Valley Property Group has completed a $71 million acquisition, preservation and renovation project at a 283-unit senior housing tower in Jersey City’s Journal Square neighborhood.

Professional Services
Alban Construction promotes Shaw to senior project manager

Alban Construction LLC has elevated Tim Shaw to senior project manager, the Newark-based firm announced.

Professional Services
Veteran health care real estate broker Kretowicz joins WCRE as executive vice president

Wolf Commercial Real Estate has bolstered its presence in health care with the addition of veteran broker and industry specialist Kim Kretowicz.

Government & Public Policy
Bill to create new affordable housing framework clears state Senate, heads to Murphy’s desk

The next chapter of affordable housing in New Jersey is now in Gov. Phil Murphy’s hands, following the state Senate’s passage of a bill to revamp how officials calculate and enforce each town’s obligations under the landmark Mount Laurel doctrine.

Professional Services
MSW adds Capasso, Forrest as construction law and litigation group co-chairs

Murphy Schiller & Wilkes LLP has named two new partners in key roles, adding Anthony D. Capasso and R. Brant Forrest as co-chairs of its construction law and litigation practice groups.

Government & Public Policy
Policy playbook: NJBA aims to tackle construction, housing costs on multiple fronts in Trenton

Developers are cautiously optimistic about new legislation to streamline affordable housing production in New Jersey, but it’s far from their only public policy objective in 2024.

Residential & Mixed Use
Tishman Speyer acquires land beneath planned two-tower, 1,941-unit rental project

Tishman Speyer has completed its acquisition of parcels in Jersey City that are slated to become two mixed-use towers with nearly 2,000 new luxury apartments.

Retail
Swim school takes 9,000 sq. ft. at North Bergen shopping center, GRID says

Aqua-Tots Swim Schools is expanding in New Jersey after leasing more than 9,000 square feet at a North Bergen shopping center, in a newly announced deal by GRID Real Estate.