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.

Professional Services
Four Rutgers Center for Real Estate students joining Walker & Dunlop

Walker & Dunlop, a corporate sponsor of the Rutgers Center for Real Estate, has hired four students thanks in part to their participation in the Rutgers Business School program.

Editor’s Note
Finding a spark

We all know that developing in New Jersey is not for the faint of heart. Just ask any of the countless builders who have endured delays or scrapped projects altogether in the face of pushback by residents and a litany of regulatory hurdles.

The flip side? A supportive local government can go a long way in sparking new investment, as we’ve seen in what appears to be a growing list of municipalities in our state. That group includes the city of Orange in eastern Essex County, where at least 1,000 luxury apartments have been planned near two train stations with Midtown Direct service. As you’ll read in this month’s cover story, the projects have the potential to breathe new life into the town of 30,000 residents in 2.2 square miles, following decades of struggles despite its prime location on Interstate 280 and just west of Newark.

Events
IOREBA panel conveys optimism, pragmatism amid market uncertainty (SLIDESHOW)

Speaking at IOREBA’s annual Developers Night, a panel of industry leaders offered both optimism and assuredness, but also frustration about a market that is still fundamentally strong in many respects but grinding along in the face of economic headwinds.

Deals
Self-storage developer buys Totowa office building, plans conversion

A developer has purchased a nearly 96,000-square-foot office building in Totowa that it now plans to convert to self-storage space, in a newly announced deal by The Blau & Berg Co.

Retail
Barnes & Noble takes 15,000 sq. ft. for new Route 22 store, Goldstein Group says

Barnes & Noble has leased 15,000 square feet in Union Township as part of a move from nearby Springfield, brokers with The Goldstein Group announced Monday.

Retail
LMC: Fast-growing salon suite franchise leases 7,900 sq. ft. in Howell

A salon suite franchise has added another location with a newly signed lease at Howell’s Aldrich Plaza, in a newly announced deal by Levin Management Corp.

Professional Services
Zoltek adds sales, leasing specialist to Fair Lawn-based team

Zoltek Commercial Real Estate Services has announced the hiring of Kristina Khomenko, who joins the firm as the newest member of its Fair Lawn-based sales team.

Professional Services
Kislak sees opportunity in market uncertainty, backed by deep ties and decades of service

Leaders of The Kislak Co. Inc. see a resilient market and sustained demand from property investors in 2023 — despite a short-term slowdown amid rising borrowing costs — arguing that buyers and sellers will still find value in multifamily and commercial assets.

Health Care & Education
Stockton eyes May ribbon-cutting for new 416-bed residence hall in Atlantic City

Stockton University is nearing completion of the new six-story, 416-bed residence hall that will mark the latest addition to its growing Atlantic City campus.

Industrial
Former Dermody exec Preston joins BBX Logistics advisory committee

Gene Preston, the former Dermody Properties executive and NAIOP New Jersey president, has joined the advisory committee of a Fort Lauderdale, Florida-based industrial developer.