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.

Retail
Kislak: Owner of South Plainfield retail, office property sells after 67 years

The longtime owner of more than 28,000 square feet of retail and office space in South Plainfield has sold the complex for $3.4 million, in a deal arranged by The Kislak Co. Inc.

Office
NAI Hanson: Podiatry practice headed to Hackensack after buying medical office suite

The operator of a podiatry practice has acquired a 1,000-square-foot medical office suite in Hackensack, in a newly announced deal by NAI James E. Hanson.

Retail
First-ever IKEA kitchen pop-up set to open at Cherry Hill Mall

A new IKEA pop-up is coming to the Cherry Hill Mall, in a first-of-its kind shopping experience meant to provide more touch points for new and existing customers of the furniture chain.

Residential & Mixed Use
Developers break ground on Parsippany project with downtown-style retail, 498 apartments

A joint venture has broken ground on its redevelopment of a former suburban office property in Parsippany, with plans calling for 60,000 square feet of retail and restaurant space, 498 luxury apartments and a pedestrian-friendly design meant to evoke a town center.

Residential & Mixed Use
Denholtz, Redwood break ground on 143-unit rental project in downtown Bound Brook

Construction is underway on a project that will add more than 140 apartments to Bound Brook’s fast-growing stock of luxury multifamily buildings.

Office
Birch Group, JLL tout flurry of leasing activity at 72,000 sq. ft. Princeton office building

The Birch Group has lured several new tenants to a Princeton-area office building, including the semiconductor maker Broadcom, in a series of newly announced deals by JLL.

Retail
Urban Edge leases 39,000 sq. ft. in Cherry Hill to Total Wine & More

Urban Edge Properties has signed a new 39,000-square-foot lease to bring Total Wine & More to a grocery-anchored shopping center in Cherry Hill.

Office
Contractor buys Howell office, warehouse property for $2.9 million, Sheldon Gross says

A contractor has purchased a 10,300-square-foot commercial property in Howell for $2.9 million, in a deal arranged by Sheldon Gross Realty.

Retail
LMC: New ShopRite store, center-wide upgrades coming to Blue Star on Route 22

ShopRite is getting a new home at Blue Star Shopping Center in Watchung, under a major redevelopment of the prominent 420,000-square-foot property on Route 22.

Editor’s Note
At the ready

The issue of so-called stranded assets is a recurring theme in New Jersey commercial real estate, regrettably so, one that often finds public officials on their heels when they’re left with a vacant, obsolete office park or mall. That is seemingly not the case in Bedminster, where local leaders spent nearly a decade preparing for the possibility that AT&T, its largest taxpayer and employer, would vacate its iconic, 1.1 million-square-foot campus in the township.