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.

Industrial
Logistics firms move past retailers, wholesalers as top driver of big-box industrial leasing

Third-party logistics firms are leading the way among tenants seeking big-box industrial space, accounting for more leasing activity than any other occupier type in New Jersey and nationally.

Health Care & Education
Demand for lab, R&D space in New Jersey still surging as developers hunt for new supply

Turnkey, high-end life sciences space remains in high demand in New Jersey, creating an opportunity for owners of the state’s few remaining legacy pharmaceutical campuses or those that can find other ways to create new space without building speculatively.

Health Care & Education
Liberty Science Center breaks ground on STEM high school at SciTech Scity project

The Liberty Science Center has broken ground on a new high school at its large SciTech Scity development in Jersey City, where plans also call for an incubator facility and hundreds of apartments for scientists, students and other users at the site.

Hospitality & Tourism
HWE: Marriott Saddle Brook slated for upgrades after sale to private investor

The longtime owner of a highly visible, 241-key Marriott hotel in Saddle Brook has sold the property, in a newly announced deal by Hodges Ward Elliott.

Retail
CBRE: Teaneck retail center trades for first time in 65 years, fetching $6.25 million

A real estate firm has sold a grocery-anchored shopping center in Teaneck for $6.25 million, marking the first trade of the property in 65 years.

Finance & Capital Markets
Wells Fargo inks $150 million construction takeout loan for 424-unit Hoboken rental project

Intercontinental Real Estate Corp. has secured $150 million in financing from Wells Fargo for a 424-unit luxury apartment in western Hoboken.

Retail
Lawn Buddies takes 3,500 sq. ft. at Somerville retail building, BRC says

A lawn care company is adding a location in central New Jersey after leasing 3,500 square feet of retail space in Somerville, brokers with Bussel Realty Corp. said Monday.

Residential & Mixed Use
Adoni joins Franklin Lakes mayor to open new 52-unit luxury rental building

Local officials in Franklin Lakes joined Adoni Property Group recently to mark the opening of the firm’s new 52-unit luxury apartment building in the borough.

Office
Onyx lands 290,000 sq. ft. lease in Summit for J&J consumer health spinoff headquarters

Johnson & Johnson’s highly anticipated consumer health spinoff is leasing 290,000 square feet of office and laboratory space in Summit, in a deal that will activate a campus recently acquired by Onyx Equities.

Office
Three tenants combine for 7,500 sq. ft. at Teaneck office building, CBRE says

The owner of a Teaneck office building has signed three new leases totaling more than 7,500 square feet, in a series of newly announced deals by CBRE.