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.

Retail
Mediterranean restaurant adds fourth location with new lease in Somerville, Deluccia says

A restaurant operator is expanding to downtown Somerville, where it’s leasing 6,300 square feet by way of a deal arranged by Deluccia Commercial Group.

Finance & Capital Markets
Luxury senior housing project in Nutley scores $29 million construction loan, JLL says

A developer has secured a nearly $30 million construction loan for an 85-unit, age-restricted residential project in Nutley, brokers with JLL announced Thursday.

Industrial
Crow Holdings, BroadRange ink 480,000 sq. ft. deal to lease up new Carteret logistics campus

Crow Holdings Development has secured a full-building, 480,000-square-foot lease in Carteret to bring a new 1.2 million-square-foot industrial campus to full occupancy.

Office
Law firm Davison Eastman takes 14,000 sq. ft. in new Freehold office deal, JLL says

A law firm is changing addresses in Freehold after agreeing to lease nearly 14,000 square feet at an adjacent building along Route 33, according to a brokerage team with JLL.

Residential & Mixed Use
Kislak: West Long Branch parcel slated for high-end homes fetches $5.8 million

A development site that could bring new multimillion-dollar homes to West Long Branch has changed hands for $5.8 million, brokers with The Kislak Co. Inc. announced Wednesday.

Industrial
BRC fills 16,000 sq. ft. Garwood industrial building with two new leases

The owner of a 16,000-square-foot industrial building in Garwood has secured two tenants for the property, in a set of newly announced deals by Bussel Realty Corp.

Office
Gellman Images moves to Wall Township, eyeing continued growth at Jersey Shore

Gellman Images has found a new home in Monmouth County, announcing a move to Wall Township with visions of continued growth at the Jersey Shore.

Top News
Prism lands approvals for long-awaited housing phase at ON3, among other major projects

Prism Capital Partners has secured three key approvals for its flagship ON3 campus in Clifton and Nutley, paving the way for new phases including a long-awaited residential component with nearly 1,100 multifamily units, along with a major research and development facility.

Industrial
Reports: Industrial vacancy still rising in New Jersey, but 3PL deals remain a bright spot

Logistics firms are helping to keep a lid on rising industrial vacancy in New Jersey, providing modest relief as landlords deal with excess construction and growing sublease options.

Retail
LMC: Five Below takes 10,000 sq. ft. in latest deal at new-look Blue Star Shopping Center

Five Below has leased 10,000 square feet at Blue Star Shopping Center in Watchung, bringing another tenant to the newly updated property on Route 22.