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
CVS takes 427,000 sq. ft. at new 86-acre logistics park in Jersey City

CVS has leased more than 427,000 square feet of new industrial space in Jersey City, becoming the latest tenant to commit to an 86-acre campus just north of Route 1&9.

Finance & Capital Markets
Newark: Developers eye office-to-residential project with $22 million Northwind Group loan

A joint venture has secured $22 million in financing for its plan to expand a Newark office building and repurpose it as a new 10-story, 92-unit multifamily property.

Professional Services
Brody, legendary New Jersey appraiser, joins Otteau Group

The Otteau Group Inc. has hired longtime appraiser and real estate industry veteran Jon Brody as a senior managing director with its Matawan-based team.

Industrial
Scannell, Soligent ink 55,000 sq. ft. industrial lease in Millstone, Avison Young says

A solar panel distributor has leased nearly 55,000 square feet of industrial space in the Monmouth County township of Millstone, brokers with Avison Young announced.

Residential & Mixed Use
Rockabill adds two vice presidents for supportive housing, underwriting teams

Affordable housing developer and consulting firm Rockabill has added two vice presidents to its Hoboken-based team.

Editor’s Note
Another chapter

As you’ll read in this month’s cover story, the city of New Brunswick ended 2023 on a high note when Nokia announced that it would become the new home of its iconic Bell Labs division. The company, which will move from its historic campus in the Murray Hill section of Union County, plans to occupy a built-to-suit, 360,000-square-foot research tower at the new HELIX campus by 2028. It’s slated to do so under a lease with SJP Properties, which will build the facility in partnership with New Brunswick Development Corp., the project’s master developer, in a signature deal for the city and for the three-building, multibillion-dollar redevelopment project.

Residential & Mixed Use
Veteran brokers Tragash, Pine detail launch of SAGE Investment Real Estate Advisors

A new Morristown-based brokerage firm is marking its first two deals and a series of new assignments in the region after launching the business at the start of 2024.

Industrial
Logistics firm inks full-building, 469,000 sq. ft. sublease at Piscataway warehouse, C&W says

A logistics user has signed a sublease to take over a 469,000-square-foot industrial building in Piscataway, in a newly announced deal by Cushman & Wakefield.

Industrial
Blau & Berg: PSEG buys Kenilworth warehouses amid plan to expand substation

Public Service Electric & Gas has acquired two adjacent properties in Kenilworth that will allow it to expand its electrical grid, brokers The Blau & Berg Co. announced Monday.

Industrial
Bridge Industrial buys two-level, 128,000 sq. ft. property in Queens

Bridge Industrial has added to its footprint in the region after acquiring more than 128,000 square feet in the New York City borough of Queens.