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.

Government & Public Policy
‘The Fed raises rates until something breaks’ — Nice job, Chairman Powell.

There is a famous phrase about Fed tightening: “The Fed keeps raising rates until something breaks.” I am sure everyone at the Fed knows that joke or phrase, and yet that is exactly what they have just done.

Government & Public Policy
Greek scraps implosion of ex-Nabisco tower in Fair Lawn, plans alternative method for demo

Greek Development has called off its plan to implode the remaining piece of the former Nabisco factory complex in Fair Lawn, the site of a planned ground-up distribution center, following several months of concerns by residents about the potential environmental impact.

Residential & Mixed Use
Hudson Atlantic closes $10 million sale of 18-unit New Providence rental property

An investor has acquired an 18-unit luxury apartment property in New Providence for $10 million, in a newly announced deal by Hudson Atlantic Realty.

Retail
Investor buys 4,500 sq. ft. net-leased QuickCheck in Woodbridge for $11 million, Marcus says

A private buyer has paid $11 million for the site of a net-leased QuickChek store in Woodbridge, brokers with Marcus & Millichap announced Monday.

Retail
Goldstein Group’s Palestina promoted to vice president

The Goldstein Group has promoted broker Marc Palestina to vice president, the Paramus-based retail real estate services firm announced Monday.

Residential & Mixed Use
Eastern Pacific unveils first phase of Vineland senior housing, breaks ground on second

Eastern Pacific Development has completed the 65-unit first phase of a new senior housing complex in Vineland, with construction now underway on the project’s second piece.

Industrial
STRO fills Union warehouse, inking 12,000 sq. ft. lease with Rise Against Hunger

The STRO Cos. has leased nearly 12,000 square feet at a Union Township industrial building to a nonprofit focused on addressing global hunger.

Top News
Mondelēz unveils new $50 million R&D center at 150,000 sq. ft. Whippany building

Mondelēz International Inc. has opened a new $50 million research and development facility in Morris County, where it will look to enhance production, processing and packaging for popular snacks such as Oreos and Ritz crackers.

Professional Services
REDCOM names new CEO, eyeing continued expansion

REDCOM has named a new CEO as part of a larger plan to expand the Westfield-based design-build engineering, architecture and contracting firm.

Industrial
Ridgecut, Marcus Partners acquire low-coverage industrial service property in South Plainfield

A partnership has acquired a South Plainfield industrial property that it’s now marketing to tenants, seeking to leverage the site’s low coverage and proximity to Interstate 287.