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.

Residential & Mixed Use
Prism hits 50 percent leased milestone at new Dunellen rental property

Prism Capital Partners has leased more than 50 percent of a new 252-unit luxury multifamily property in downtown Dunellen, the developer announced Tuesday.

Office
Newmark named leasing agent for 157,000 sq. ft. Fairfield office building

The owner of a nearly 160,000-square-foot office building in Fairfield has picked Newmark Associates Commercial Real Estate as its leasing agent.

Residential & Mixed Use
Study projects demand for 1,300 new housing units in downtown Trenton over next five years

Housing demand in Trenton is on the rise, according to a recent market study, creating a need for nearly 1,300 new residential units in the downtown over the next five years.

Government & Public Policy
Demand for studio space still growing in New Jersey, as officials move to expand opportunities

New Jersey’s fast-growing film and television industry has created a boom in studio construction and a new market for commercial spaces that can serve as set locations, as state officials take new steps to help more municipalities reap the benefits.

Government & Public Policy
‘The Fed raises rates until something breaks’ — Nice job, Chairman Powell.

There is a famous phrase about Fed tightening: “The Fed keeps raising rates until something breaks.” I am sure everyone at the Fed knows that joke or phrase, and yet that is exactly what they have just done.

Government & Public Policy
Greek scraps implosion of ex-Nabisco tower in Fair Lawn, plans alternative method for demo

Greek Development has called off its plan to implode the remaining piece of the former Nabisco factory complex in Fair Lawn, the site of a planned ground-up distribution center, following several months of concerns by residents about the potential environmental impact.

Residential & Mixed Use
Hudson Atlantic closes $10 million sale of 18-unit New Providence rental property

An investor has acquired an 18-unit luxury apartment property in New Providence for $10 million, in a newly announced deal by Hudson Atlantic Realty.

Retail
Investor buys 4,500 sq. ft. net-leased QuickCheck in Woodbridge for $11 million, Marcus says

A private buyer has paid $11 million for the site of a net-leased QuickChek store in Woodbridge, brokers with Marcus & Millichap announced Monday.

Retail
Goldstein Group’s Palestina promoted to vice president

The Goldstein Group has promoted broker Marc Palestina to vice president, the Paramus-based retail real estate services firm announced Monday.

Residential & Mixed Use
Eastern Pacific unveils first phase of Vineland senior housing, breaks ground on second

Eastern Pacific Development has completed the 65-unit first phase of a new senior housing complex in Vineland, with construction now underway on the project’s second piece.