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
SJP, PGIM unveil new rooftop terrace to complete overhaul of Park Avenue office tower

SJP Properties and PGIM Real Estate have completed a major renovation of a 300,000-square-foot office and retail building in Midtown Manhattan.

Retail
Goldstein Group inks sale of 17,000 sq. ft. car dealership property

A high-end car dealership has purchased a 17,400-square-foot commercial building on Route 1 South in Edison, brokers with The Goldstein Group announced Monday.

Retail
Indoor park operator Sky Zone plans new locations in North Bergen, Rutherford

Indoor active entertainment company Sky Zone has announced plans to open new park locations in North Bergen and Rutherford.

Residential & Mixed Use
Richman Group closes new affordable housing tax credit funds totaling $450 million

The Richman Group Affordable Housing Corp. has raised $450 million in new equity financing across three institutional investor funds focused on affordable housing tax credits.

Industrial
Big energy: How fast-growing Solar Landscape became a force in New Jersey commercial real estate

Solar Landscape has become a key player with a visible presence in New Jersey’s commercial real estate industry, having leased more than 20 million square feet of rooftop space for its solar projects.

Residential & Mixed Use
Spencer closes $9 million loan for 58-unit Hackensack rental building

Spencer Savings Bank has originated $9 million in financing to the owner of a 58-unit apartment building in Hackensack, the lender announced recently.

Retail
Azarian: Co-working concept takes 1,500 sq. ft. at North Brunswick lifestyle center

A co-working concept has leased nearly 1,500 square feet to join the tenant mix at a North Brunswick retail center, in a newly announced deal by Azarian Realty Co.

Government & Public Policy
Hoboken acquiring five-acre waterfront parcel for long-awaited public park space

The city of Hoboken has all but completed its acquisition of a long-contested, five-acre parcel along the Hudson River, paving the way for new park space and a plan to create uninterrupted public access along the length of its waterfront.

Sponsored Content
Indicators for the future of the New Jersey rental market

Inflation has cemented itself as the main concern for Americans over the past year and for good reason. The United States has seen costs rise across every single sector, but few have grown faster than housing. The state of New Jersey holds the distinction of having the sixth-highest rents in the nation and has seen an astronomical rise in those rents with annual growth rates peaking at nearly 33 percent in May of 2022.

Industrial
Smaller deals fueling investor activity in New Jersey industrial market, report says

Investor demand for industrial buildings in New Jersey has held steady in recent months, thanks in large part to a boost in deals involving smaller properties.