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.

Professional Services
JLL taps ex-Savills Studley chief Colacino as president for tristate brokerage

JLL has welcomed veteran commercial real estate executive Michael Colacino as its president for tristate brokerage.

Retail
LMC survey: Retailers show measured optimism, expect modest growth this holiday season

Retailers are cautiously optimistic about this year’s holiday shopping season, with many expecting modest growth and that sales would peak before Thanksgiving and Black Friday.

Industrial
Petrucci breaks ground on 107,000 sq. ft. industrial building off I-295 in Salem County

J.G. Petrucci Co. Inc. has broken ground on its latest industrial project in South Jersey, a 107,000-square-foot facility just north of Interstate 295 in Salem County.

Finance & Capital Markets
JLL sources $50 million loan for new 177-unit Clark rental property

The developer of a newly built, 177-unit luxury apartment property in Clark has secured nearly $50 million in financing for the asset, in a deal arranged by JLL.

Industrial
NAI Hanson: Magnetic materials company signs 13,000 sq. ft. renewal in Mahwah

A firm that specializes in magnetic materials has renewed its lease in Mahwah, where it occupies more than 13,000 square feet of industrial flex space near Route 17.

Residential & Mixed Use
Final townhome at Hoboken’s Wonder Lofts on the market for $2.8 million

The final townhome-style condominium at the distinctive Wonder Lofts project in Hoboken has hit the market for just under $2.8 million.

Deals
Vacant 2.3-acre parcel in Howell fetches $875,000, Sheldon Gross says

A plot of undeveloped land spanning more than two acres has changed hands in Howell for $875,000, brokers with Sheldon Gross Realty announced this week.

Office
Fashion company Sparc Group renews, expands to 93,000 sq. ft. at Lyndhurst office building

The owner of Brooks Brothers, Reebok and other fashion brands has expanded its footprint in Lyndhurst, where it now occupies more than 90,000 square feet of office space.

Events
Strength and stability: Panelists say long-term leadership in business, government is central to New Brunswick’s highly touted revival

Leveraging its key assets and the vast resources of business, academic and political leaders in New Brunswick has been a hallmark of the city’s economic revival in recent decades, panelists said during a program hosted by Real Estate NJ, as they discussed the philosophical and financial partnerships behind billions of dollars in public- and private-sector redevelopment.

Industrial
NAIDB: Industrial buildings in East Brunswick, Piscataway trade for combined $15.5 million

Two Middlesex County industrial buildings totaling 77,000 square feet have changed hands for a combined $15.45 million, in a set of newly announced deals by NAI DiLeo-Bram & Co.