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.

Deals
Developers buy Elizabeth property, prospective development site, for $2.9 million

A development team has entered Union County with its purchase of a one-acre commercial property in Elizabeth, according to a broker with Gebroe-Hammer Associates.

Professional Services
Construction firm AMHigley touts three recent hires in Morristown office

The Albert M. Higley Co. has added to its Morristown-based office with recent hires on its administrative and project management teams, the construction firm announced.

Office
Physical therapist inks 2,200 sq. ft. renewal in Princeton, CPN says

A physical therapy practice has renewed its lease at a Princeton office building, in a newly announced deal by Commercial Property Network Inc.

Government & Public Policy
EDA pledges Aspire tax credits for major Newark, Camden and Morristown housing projects

The state has lent its support to three projects that will create or renovate a combined 728 apartments in Newark, Camden and Morristown — most of them for lower-income renters — after awarding nearly $121 million in tax credits under a new gap financing program.

Office
JLL: Princeton office building trades for $12.7 million in deal between Nessel, SFA

An investment firm has sold a nearly 72,000-square-foot office building in Princeton for $12.7 million, in a newly announced deal by JLL.

Retail
Swim school leases 10,000 sq. ft. at The Shoppes at North Brunswick, Azarian says

A growing chain of swim schools has taken nearly 10,000 square feet at an upscale shopping center in North Brunswick, according to a leasing team with Azarian Realty Co.

Office
CPN inks deals in Pennington with development firm, printing company

A developer focused on sustainability has leased more than 1,300 square feet of office space in Pennington, in one of two new deals in the borough by Commercial Property Network Inc.

Residential & Mixed Use
NRP Group, Bayoh unveil 56-unit affordable housing project in Irvington

A development team has completed 56 units of affordable housing in Irvington, where it has brought life to a long-vacant parcel in one of the township’s main thoroughfares.

Industrial
JLL: Investor adds 101,000 sq. ft. Piscataway warehouse in $26.5 million sale-leaseback

A private investor has purchased more than 100,000 square feet of industrial space in Piscataway, in a sale-leaseback valued at $26.5 million.

Government & Public Policy
EDA unveils $25 million program to help rescue vacant, underused commercial sites

The state Economic Development Authority has launched a funding program to help reposition properties such as vacant or underused office parks, malls or health care facilities, in another move aimed at rescuing many of New Jersey’s so-called stranded assets.