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.

Residential & Mixed Use
Sagard eyes value-add renovation plan after buying 116-unit Morris Plains rental property

Sagard Real Estate has acquired a 116-unit apartment property in Morris Plains, with plans to renovate more than three-quarters of the homes while updating amenities and common spaces.

Industrial
Dermody, retail brand Quince ink 105,000 sq. ft. lease in Carneys Point, Lee & Associates says

A direct-to-consumer retailer has found its first logistics facility, leasing 105,000 square feet of new industrial space in the Salem County township of Carneys Point.

Residential & Mixed Use
NAI Hanson: Hackensack portfolio with eight apartments, two retail units sold for $1.8 million

A private investor has acquired two mixed-use buildings in downtown Hackensack for a combined $1.8 million, in a newly announced deal by NAI James E. Hanson.

Residential & Mixed Use
Canoe Brook debuts 220-unit luxury rental property in Warren, filling a key housing need

Canoe Brook Development has unveiled a collection of 220 luxury apartments in Warren, delivering the township’s first large-scale rental property to a site just off Interstate 78.

Education
Students tour new Russo, Hero Development projects to cap off ULI’s UrbanPlan program in East Brunswick, East Orange schools

The developers of new apartment buildings in New Brunswick, East Brunswick and East Orange welcomed students to the properties recently as part of an Urban Land Institute program that exposes high schoolers to commercial real estate planning and construction.

Industrial
NAIDB named leasing broker for East Brunswick, Union Township industrial buildings

The owner of a 21,000-square-foot industrial building in East Brunswick has tapped NAI DiLeo-Bram & Co. as its leasing team, in one of two new assignments for the real estate services firm.

People
Doyle joins Red Bank-based Denholtz as human resources director

Denholtz has hired Kira Doyle as its new director of human resources, adding a seasoned professional in the space to support its growing team.

Office
Personal injury law firm takes 1,400 sq. ft. at Sanzari’s Court Plaza campus in Hackensack

Alfred Sanzari Enterprises has secured another tenant for Court Plaza, its office campus in downtown Hackensack, inking a nearly 1,400-square-foot lease with a personal injury law firm.

Editor’s Note
System updates

As you’ll read in this month’s cover story, New Brunswick is marking its latest and perhaps most monumental investment in health care with the opening of the 12-story, 520,000-square-foot Jack & Sheryl Morris Cancer Center. Executives with RWJBarnabas Health, the Rutgers Cancer Institute and other key stakeholders unveiled the facility in mid-May, hailing the arrival of New Jersey’s first freestanding cancer hospital and one of only 13 in the country, part of a $1 billion project that has brought top-tier patient care and cutting-edge research labs under one roof.

Industrial
Saxum, Penwood eye new warehouse project in Parsippany after buying vacant office building

Another vacant office building in Parsippany is set to come down as part of a joint venture’s plan to construct a new 128,000-square-foot speculative warehouse just north of Route 10.