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
Norman’s Hallmark opens new 6,000 sq. ft. store in Somers Point

The nation’s largest independent owner of Gold Crown Hallmark stores has opened its doors to a new location in Atlantic County.

Finance & Capital Markets
National Private Lenders Association unveils first-ever glossary for fast-growing industry

The National Private Lenders Association has released an industry-first glossary aimed at standardizing terms and definitions across the rapidly changing industry.

Retail
JLL inks sale of vacant Sears property, occupied pad sites on Long Island

A developer has purchased the site of a vacant Sears and two fully occupied pad sites on Long Island, in a deal arranged by JLL’s Morristown-based capital markets team.

Government & Public Policy
Hinchliffe Stadium, Westfield downtown among 2023 Smart Growth Award winners

New Jersey Future has unveiled the winners of this year’s Smart Growth Awards, highlighting projects from Paterson to Westfield with a major focus on planning and redevelopment.

Government & Public Policy
Solar Landscape, Sudler mark completion of rooftop community solar project in Piscataway

A new rooftop solar project at a Piscataway warehouse is now complete after being connected to the grid, allowing it to provide discounted energy to nearly 300 households in the area.

Health Care & Education
NAI Hanson inks renewal, new lease at Clara Maass medical office portfolio in Belleville

The owner of three medical office buildings at Belleville’s Clara Maass Medical Center has completed two new leases within the portfolio, brokers with NAI James E. Hanson announced.

Residential & Mixed Use
Cervelli closes sale of 16-unit North Bergen apartment building to 1031 investor

An investor has purchased a 16-unit apartment building in North Bergen for nearly $2.6 million, in a deal arranged by Cervelli Real Estate and Property Management.

Residential & Mixed Use
Marcus: New construction poised to flood North Jersey rental market, but vacancy to remain tight

A surge of new supply is coming to northern New Jersey’s apartment market, with some 12,000 units slated to be delivered this year in a region with one of the country’s lowest vacancy rates.

Office
Japanese pharma firm opens new 80,000 sq. ft. North American headquarters near Princeton

A global pharmaceutical maker has unveiled its new North American headquarters outside Princeton, where it leases nearly 80,000 square feet that will house some 300 employees.

Health Care & Education
New video shows construction progress, research space at New Brunswick cancer center project

The team behind what will be the state’s first freestanding cancer hospital is offering a new look at the progress of the project in downtown New Brunswick — as well as a preview of one of the building’s most critical components.