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
DMR details new Community Energy Plan adopted by Prospect Park

The borough of Prospect Park has adopted a new Community Energy Plan, working in tandem with DMR Architects, as it looks to meet the state’s growing list of goals and regulations tied to renewable energy.

Events
From the publisher: Join us June 7 for The Newark Redevelopment Update

Real Estate NJ is going to have a seminar on June 7 at NJIT regarding Newark and its revitalization. Newark means a lot to me. I grew up in Maplewood and took the bus with my friends to downtown Newark to hang out on Broad Street. We would go into Bamberger’s, Hahne’s, S. Klein on the square, etc. After the riots of 1967 Newark changed dramatically and has still not recovered from the stigma of that event. Over the last 15 years I have spent a lot of time in Newark in philanthropic endeavors and have been disappointed that Newark has not made the progress in revitalization that I had hoped it would.

Residential & Mixed Use
Developer sells 34-unit Bound Brook rental building for $10.8 million, Veerman says

A developer has sold a three-year-old, 34-unit apartment building in Bound Brook for nearly $11 million, in a deal arranged by Veerman Asset Management.

Industrial
Urban Edge leases 286,000 sq. ft. at East Hanover industrial park

Urban Edge Properties has leased more than 286,000 square feet of industrial space in East Hanover after securing new long-term commitments from two tenants.

Retail
JLL: Middle Eastern-themed quick-service eatery takes 3,000 sq. ft. in Jersey City

A quick-service Middle Eastern restaurant is coming to Jersey City after leasing 3,000 square feet at the base of a waterfront office building, according to a broker with JLL.

Finance & Capital Markets
Prime City, Manasquan Bank ink $7.5 million construction loan for Long Branch rental project

A developer has closed on $7.5 million in construction financing for a 31-unit apartment building in Long Branch, with a groundbreaking set to take place next month.

Photos
Inaugural ‘Deals & Dollars’ networking event draws 350 top CRE professionals

A new networking series for New Jersey’s commercial real estate sector is off to a fast start, having drawn more than 350 industry professionals to a recent event in Jersey City.

Office
Inspired by Somerset Development launches third-party buildout, tenant improvement arm

The developer behind the acclaimed Bell Works campus in Holmdel has launched a third-party design and construction business, seeking to draw from its experience of building flexible, modern office spaces at the 2 million-square-foot property.

Industrial
Link, GXO Logistics ink 611,000 sq. ft. industrial lease in South Brunswick

A logistics firm has leased 611,000 square feet at a soon-to-be-updated industrial building in South Brunswick, in a newly announced deal by Lee & Associates New Jersey.

Residential & Mixed Use
Accurate breaks ground on 325-unit rental project in Parsippany

Accurate has started construction on a project that will bring 325 new apartments to a 26-acre site in Parsippany, adding to its fast-growing residential portfolio in the region.