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

New boutique Hudson County apartment building fetches $400,000 per unit, Kislak says

A developer has sold a recently completed, 13-unit apartment building in West New York for more than $400,000 per unit, in a newly announced deal by The Kislak Co. Inc.

Professional Services

Cervelli makes key additions to property management, sales teams

Cervelli Real Estate and Property Management has made three personnel moves to support its growing business in Hudson County and beyond.

Retail

LMC survey: Brick-and-mortar retailers see continued momentum, expansion in 2023

Brick-and-mortar retailers are largely optimistic about their prospects this year, according to an annual survey by Levin Management Corp., amid easing concerns about labor shortages and momentum built during a strong 2022.

Industrial

Velocity sells 48,000 sq. ft. Camden County industrial building for $4.2 million

Velocity Venture Partners has sold a Camden County industrial building for $4.2 million, in a deal that comes less than three years after it purchased the 48,000-square-foot facility.

Apartment design, development evolving to meet growing pool of renters by choice

More U.S. households are renting apartments now, than at any point in the past 50 years, according to the PEW Research Center. Many of today’s renters do so by choice, citing greater flexibility in lifestyle, liquidity and maintenance. Increased mortgage rates, rising inflation and uncertain economic times all help to bolster the current multifamily rental market. While apartment leasing itself is forecasted to remain strong in 2023, the resident experience continues to evolve to better meet the needs of a growing population of renters by choice.

Residential & Mixed Use

Veteran multifamily executive Penn kicks off two-year term as NJAA president

The New Jersey Apartment Association has elected a long-serving member and longtime property management executive in the state as its newest board president.

Professional Services

Stein, Lundy named directors with JLL investment sales team

JLL has added two directors to its Morristown-based investments sales team after a pair of recent promotions.

Retail

MSC: Developer sells 10,000 sq. ft., net-leased daycare building in Cinnaminson

A developer has sold the site of a net-leased daycare facility along Route 130 in Burlington County, brokers with MSC Retail Inc. announced Thursday.

Deals

Investor flips Burlington County mobile home park, Vantage Commercial says

An investor has sold a mobile home park in the Burlington County township of Hainesport, in a newly announced deal by Vantage Commercial.

Health Care & Education

EDA approves $271 million tax credit for massive health, life sciences campus in New Brunswick

The state has approved a $271 million tax credit for a plan to build more than 570,000 square feet of research and academic space in downtown New Brunswick, including a new home for the state’s flagship medical school and facilities for startups and entrepreneurs.