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.

Office
Sanofi coming to Morristown in 260,000 sq. ft. lease at M Station

Pharmaceutical giant Sanofi is moving its New Jersey team to Morristown, where it will occupy 260,000 square feet of new ground-up office space built by SJP Properties and Scotto Properties.

Health Care & Education
Savills: Contract drug maker takes 60,000 sq. ft., doubles footprint at EDA campus on Route 1

A specialty pharmaceutical maker has more than doubled its footprint at a state-owned campus in North Brunswick, where it’s set to occupy nearly 60,000 square feet across a full building.

Professional Services
Retail brokers Townes, Friedman join JLL

JLL has added two veteran brokers to help bolster and lead its New Jersey retail team.

Office
Adoni buys 217,000 sq. ft. Basking Ridge office complex, C&W says

Adoni Property Group has acquired a nearly 217,000-square-foot office complex in Somerset County, with plans to add amenities to help lure new tenants to the property.

Retail
Marcus: Net-leased QuickChek gas, convenience store in Somerset trades for $7 million

A developer has sold the site of a net-leased QuickChek gas station and convenience store in Franklin Township for more than $7 million, in a deal arranged by Marcus & Millichap.

Retail
French bakery business takes 2,600 sq. ft. in Somerville, in Deluccia-brokered deal

A growing bakery chain has leased nearly 2,600 square feet in downtown Somerville, in a newly announced deal by Deluccia Commercial Group.

Residential & Mixed Use
Jersey City public housing complex to be rebuilt with 631 affordable, market-rate units

More than 600 new apartments and condominiums are coming to the site of an 80-year-old public housing complex in Jersey City, officials said, under a plan that would include both lower-income and market-rate units and a new branch of the city’s public library.

Industrial
Greek details 287,000 sq. ft. Philly warehouse project, fast-growing development pipeline

Greek Development has expanded its footprint to Philadelphia, with plans to build nearly 300,000 square feet of new industrial space, after one of several recent acquisitions and as part of a development pipeline that currently calls for more than 2.5 million square feet.

Retail
Starbucks, Jersey Mike’s among new retailers at Hackensack’s Print House, NAI Hanson says

Starbucks and Jersey Mike’s are coming to a mixed-use community at the former Bergen Record site in Hackensack, joining previously announced retail tenants such as Blue Foundry Bank and Hackensack Meridian Health at the River Street property.

Retail
Livingston retail, office property trades for $5.2 million, C&W says

A buyer has paid $5.2 million for a Livingston property with more than 27,000 square feet of retail and office space, brokers with Cushman & Wakefield announced.