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
Donnelly completes walls, steel for new 26,000 sq. ft. Wayne industrial project

Donnelly Construction has erected walls and steel for a nearly 26,000-square-foot warehouse in Wayne that’s on track to open by this spring, the firm announced Tuesday.

Retail
Larken adds 204,000 sq. ft. grocery-anchored retail center in Pike County

Larken Associates has acquired a grocery-anchored shopping center just outside Sussex County, adding more than 200,000 square feet to its retail holdings in the region.

Industrial
Home Depot takes 1.3 million sq. ft. in Monroe, amid measured outlook for N.J. industrial space

Home Depot has leased nearly 1.3 million square feet of newly built industrial space in Monroe, in a sign of continued market demand despite a shrinking appetite by e-commerce users.

Office
Reports: Demand for New Jersey office space grows in 2022, despite economic headwinds

Office leasing in New Jersey rebounded in 2022, showing notable improvement from a year earlier despite a mixed fourth quarter and ongoing economic uncertainty.

Professional Services
Greenbaum taps McGowan as new real estate practice co-chair, Coskey as counsel

Greenbaum Rowe Smith & Davis LLP has named Sean R. McGowan as the new co-chair of its real estate department.

Retail
Onyx adds three tenants, hits 92 percent occupancy at Hazlet retail center, Pierson says

The leasing team for a Hazlet shopping center has attracted three new tenants, bringing occupancy to more than 90 percent after recent deals totaling nearly 10,000 square feet.

Industrial
BRC inks sale of 8,000 sq. ft. Somerset industrial building

A local owner has sold an 8,000-square-foot industrial building in Franklin’s Somerset section, in a newly announced deal by Bussel Realty Corp.

Retail
New tenants lease nearly 13,000 sq. ft. at grocery-anchored center in Perth Amboy

Four new tenants are coming to a Perth Amboy shopping center after combining to lease nearly 13,000 square feet, in a series of deals arranged by The Goldstein Group.

Industrial
Peak Construction names new chief operations officer

Peak Construction Corp. has hired a longtime industry executive as its chief operations officer.

Finance & Capital Markets
Procida closes $21 million construction loan for Kearny multifamily project

Procida Funding has originated a $20.5 million construction loan to the owner of a multifamily development site in Kearny, where plans call for a project with 69 apartments.