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.

Office
Summit office building fully leased after 3,600 sq. ft. deal by financial services firm

A financial services firm has leased 3,600 square feet of office space in downtown Summit, in a newly announced deal by NAI James E. Hanson.

Office
Plastic surgeon adds second location with 3,400 sq. ft. lease in Montvale, JLL says

A cosmetic surgery practice has joined the fast-growing roster of health care tenants at a 32,000-square-foot office building in Montvale, according to a leasing team with JLL.

Residential & Mixed Use
Latest piece of luxury rental project in Woodbridge slated for June opening

A developer is set to open the newest building at a 335-unit luxury apartment complex at the junction of Route 1 and the Garden State Parkway in Woodbridge.

Industrial
Logistics firms move past retailers, wholesalers as top driver of big-box industrial leasing

Third-party logistics firms are leading the way among tenants seeking big-box industrial space, accounting for more leasing activity than any other occupier type in New Jersey and nationally.

Health Care & Education
Demand for lab, R&D space in New Jersey still surging as developers hunt for new supply

Turnkey, high-end life sciences space remains in high demand in New Jersey, creating an opportunity for owners of the state’s few remaining legacy pharmaceutical campuses or those that can find other ways to create new space without building speculatively.

Health Care & Education
Liberty Science Center breaks ground on STEM high school at SciTech Scity project

The Liberty Science Center has broken ground on a new high school at its large SciTech Scity development in Jersey City, where plans also call for an incubator facility and hundreds of apartments for scientists, students and other users at the site.

Hospitality & Tourism
HWE: Marriott Saddle Brook slated for upgrades after sale to private investor

The longtime owner of a highly visible, 241-key Marriott hotel in Saddle Brook has sold the property, in a newly announced deal by Hodges Ward Elliott.

Retail
CBRE: Teaneck retail center trades for first time in 65 years, fetching $6.25 million

A real estate firm has sold a grocery-anchored shopping center in Teaneck for $6.25 million, marking the first trade of the property in 65 years.

Finance & Capital Markets
Wells Fargo inks $150 million construction takeout loan for 424-unit Hoboken rental project

Intercontinental Real Estate Corp. has secured $150 million in financing from Wells Fargo for a 424-unit luxury apartment in western Hoboken.

Retail
Lawn Buddies takes 3,500 sq. ft. at Somerville retail building, BRC says

A lawn care company is adding a location in central New Jersey after leasing 3,500 square feet of retail space in Somerville, brokers with Bussel Realty Corp. said Monday.