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.

Industrial
Seagis completes new 8,700 sq. ft. lease at Carteret industrial building, BRC says

Seagis Property Group has secured a new tenant after leasing nearly 8,700 square feet at a Carteret industrial building, brokers with Bussel Realty Corp. announced this week.

Residential & Mixed Use
Hornrock debuts outdoor amenities at new 221-unit Hackensack apartment building

Hornrock Properties has taken the wraps off a new courtyard and rooftop deck at its newly opened, 221-unit luxury apartment building in downtown Hackensack.

Industrial
Boutique advisory firm Branch Industrial launches with offices in Teaneck, Manhattan

A new boutique advisory firm for industrial real estate has opened its doors, with a focus on sourcing institutional capital and private equity for deals in New Jersey and nationally.

Office
Onyx, NJ Transit ink 407,000 sq. ft. lease at Newark’s Gateway, boosting Q2 office market

Onyx Equities has completed a deal to bring NJ Transit to Newark’s Gateway complex, where the agency has committed to more than 400,000 square feet under a high-profile office lease.

Residential & Mixed Use
Middlesex County apartment portfolio trades for $9.7 million, Gebroe-Hammer says

A growing multifamily owner has added to its holdings with three properties in Middlesex County, acquiring the 53-unit portfolio for nearly $10 million.

Residential & Mixed Use
Jersey City parcel slated for apartments, townhomes after $6 million sale by CBRE

A developer has acquired a parcel in Jersey City’s waterfront Paulus Hook neighborhood for $5.9 million, in one of two newly announced deals by CBRE.

Retail
Urban Edge inks leases to bring First Watch, Shake Shack to Brick retail center

Urban Edge Properties is bringing new dining options to a Brick Township shopping center after signing leases with First Watch and Shake Shack.

Industrial
NAI Hanson named leasing agent for 716,000 sq. ft. Newark industrial complex

Global real estate firm Hines has tapped NAI James E. Hanson as its leasing agent for more than 700,000 square feet of industrial space in Newark’s Ironbound section.

Health Care & Education
Nonprofit takes 16,000 sq. ft. in Totowa for facility serving adults with special needs

A regional school district has leased nearly 16,000 square feet in Totowa for a facility that will serve adults with special needs, in a newly announced deal by The Goldstein Group.

From the Publisher
From the publisher: Homework for you to do on our economy

Below is a link to an article by David Berson, Ph.D., of Cumberland Advisors regarding the country’s current economic status and an analysis of whether we will fall into a recession. In my opinion, it is exceptionally well written and accurate. More importantly, Berson does not fall into the usual trap that most commentators are susceptible to of only presenting data that substantiates their position. He covers the field and presents both sides of the argument without really sticking his flag in either mound.