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
Hackensack council votes to scrap PILOTs for major projects by Sanzari, Russo and Enburg, with legal action now looming

The Hackensack city council has voted to rescind payment in lieu of taxes agreements for three high-profile development projects, raising major questions about the fate of proposals that would bring another 650 luxury apartments to the municipality.

Industrial
Seagis, ecommerce firm ink 211,000 sq. ft. lease at new Kearny warehouse, JLL says

Seagis Property Group has filled more than 211,000 square feet of new industrial space in Kearny after inking a lease with a growing ecommerce firm, according to brokers with JLL.

Residential & Mixed Use
Woodmont breaks ground, eyes 2028 delivery for 300-unit Metropark rental project

Woodmont Properties has broken ground on a project that will bring 300 new luxury apartments to a site less than a mile from the Metropark train station in Woodbridge.

Finance & Capital Markets
JLL arranges construction loan, JV equity for 230-unit upscale rental project in Watchung

A six-building, 230-unit multifamily project in Watchung is moving ahead with the help of a construction loan and joint venture equity secured by JLL.

Health Care
Newmark: Tenants wanted for new 52,000 sq. ft. medical office building in Hackensack

The developer of nearly 52,000 square feet of new medical office space in Hackensack has brought the building to market alongside a leasing team with Newmark.

Finance & Capital Markets
Secaucus warehouse owner lands $23 million permanent loan, G.S. Wilcox says

The owner of a 200,000-square-foot warehouse in Secaucus has closed on $23 million in permanent financing, in a newly announced deal by G.S. Wilcox & Co.

Residential & Mixed Use
Larken hails completion, lease-up of 120-unit multifamily property in Pohatcong

Larken Associates has completed and leased up a collection of 120 new apartments in Warren County, marking another milestone for its fast-growing residential portfolio.

Office
Buyer sought for Plainsboro office buildings with value-add, redevelopment prospects, JLL says

The owner of a nearly 462,000-square-foot office portfolio in Plainsboro has put the properties on the market for sale, presenting what brokers say is a broad range of value-add options.

Residential & Mixed Use
Weiss Realty sells Fort Lee development site approved for 24 high-end rentals

Weiss Realty has sold a development site in Fort Lee with approvals in place for a 24-unit luxury apartment building.

Industrial
JLL named leasing team for 250,000 sq. ft. industrial building on Manhattan’s West Side

Essex Capital has tapped JLL’s East Rutherford-based Northeast Industrial group as its leasing agent for a full-block, 250,000-square-foot logistics facility on Manhattan’s West Side.