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.

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Minimizing the risk of roof monetization

To avoid the so-called “tail wagging the dog,” rooftop owners can avail themselves of certain strategies in structuring rooftop lease deals to minimize risk. This article touches upon a few strategies, including reserve areas and relocation and recapture rights.

Retail
Agus, Treeco buy ShopRite-anchored retail center in South Plainfield for $40 million

A joint venture has acquired a nearly 220,000-square-foot shopping center in South Plainfield for $40 million, brokers with JLL announced Thursday.

Residential & Mixed Use
Inspired launches sales for new 112-unit upscale condo project in Asbury Park

Inspired by Somerset Development has kicked off sales for more than 100 new condominiums in Asbury Park, adding to the pipeline of luxury for-sale housing along the city’s iconic shoreline.

Retail
Toastique set to open in Morristown with husband and wife team at the helm

The gourmet toast, juice and coffee bar concept known as Toastique is coming to Morristown, where a team of franchisees will open a new downtown location in just over a week.

Office
NAI Hanson: Compounding pharmacy takes 1,800 sq. ft. at Woodbridge office building

A compounding pharmacy has leased more than 1,800 square feet at a Woodbridge office building, according to a brokerage team with NAI James E. Hanson.

Retail
Specialty grocer in Hammonton snags new downtown location, Vantage Commercial says

A specialty grocery store has found a new location in Atlantic County after leasing space in downtown Hammonton, in a deal arranged by Vantage Commercial.

Residential & Mixed Use
Longtime owner sells 34-unit Madison apartment building for $12 million, Berkadia says

An investor has acquired a 34-unit, garden-style apartment building in Madison for nearly $12 million, in a newly announced deal by Berkadia.

Industrial
Mapletree starts construction, eyes 2026 debut for 250,000 sq. ft. Westampton warehouse

Mapletree Investments Pte Ltd has broken ground on a new 250,000-square-foot industrial building in Burlington County, as it ramps up its development pipeline in key U.S. markets.

Residential & Mixed Use
JLL: Buyer wanted for Edgewater property with 62 apartments, Whole Foods-anchored retail

An upscale retail and residential property in Edgewater is on the market for sale, boasting a tenant roster that’s anchored by Whole Foods and 64 market-rate apartments.

Residential & Mixed Use
Pennrose, officials break ground on new affordable senior housing in New Brunswick

Pennrose has started construction on a project that will bring 66 new age-restricted, affordable housing units to downtown New Brunswick with the help of state and city funding sources.