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
Eden Wood, event rentals company ink 32,000 sq. ft. industrial lease in Jersey City, BRC says

An event rental company has taken nearly 32,000 square feet at a Jersey City industrial building, in a newly announced deal by Bussel Realty Corp.

Cover Story
Culture campus: Newark Museum update marks latest milestone as $100 million mixed-use project takes shape around it

New Jersey’s oldest museum has undergone a significant upgrade, solidifying its commitment to serve as a dynamic cultural hub for the region and beyond. It also is considered the cornerstone of the $100 million, blended-use project that’s poised to link two downtown neighborhoods.

Editor’s Note
Building momentum

The Museum Parc project is now taking shape around The Newark Museum of Art, as you’ll read in this month’s cover story, as a development team constructs two new buildings with a combined 250 mixed-income apartments, ground-floor retail and additional cultural spaces such as a vibrant, glass-enclosed gallery. The construction along Central Avenue is now about 50 percent complete, as anticipation builds for full delivery in early 2027.

Top News
Joe Morris, big-box developer and giant of New Jersey commercial real estate, dies at age 81

Joe Morris, the co-founder of the Morris Cos. who was known for his commanding presence and leadership in New Jersey’s commercial real estate sector, died last week. He was 81.

Office
JLL tapped to sell 230,000 sq. ft. Bedminster campus fully leased to AT&T

The two-building, 230,000-square-foot office campus in Bedminster that serves as a key corporate hub for AT&T is on the market for sale, according to brokers with JLL.

Industrial
Velocity-owned small-bay industrial park in Marlton now fully leased, NAI Mertz says

Velocity Venture Partners has leased up a 160,000-square-foot industrial park in Burlington County in tandem with an NAI Mertz brokerage team, the firms announced last week.

Retail
Dim sum, dumplings eatery takes 3,700 sq. ft. at Taurasi Group’s Southend Hoboken project

Nana’s Dim Sum & Dumplings is slated to open next summer at Southend Hoboken at 38 Jackson St. in Hoboken. — Courtesy: Nana’s (via The Taurasi Group) By Joshua Burd A fast-growing dim sum concept is entering New Jersey with…

Professional Services
Chacanias joins Flaster Greenberg as counsel with real estate and land use, environmental teams

Flaster Greenberg PC has welcomed Peter A. Chacanias as counsel in its real estate and land use and environmental departments, the Cherry Hill-based firm announced last week.

Residential & Mixed Use
Developer nears completion, eyes debut of 622-unit Journal Square rental tower

A major addition to the Jersey City skyline is nearing completion in the form of a 29-story, 622-unit luxury apartment tower that’s slated to hit the market in the coming months.

Finance & Capital Markets
JLL sources $62 million Freddie Mac loan for 541-unit Tower Management rental portfolio

Tower Management Service has secured $62 million in financing for a multistate, 541-unit apartment portfolio that includes four New Jersey properties, in a deal arranged by JLL.