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
Joint venture buys 38,000 sq. ft. Cinemark property at busy Route 22 intersection, JLL says

A joint venture has acquired the site of a nearly 38,000-square-foot movie theater on Route 22 in Watchung, in a newly announced deal by JLL.

Residential & Mixed Use
Boraie plans 342-unit apartment tower for its latest project in downtown New Brunswick

Boraie Development has taken a key step in its plan to build a new 342-unit luxury apartment tower in New Brunswick, in what would be the firm’s latest project in its longtime home city.

Office
Dr. Reddy’s takes 53,000 sq. ft. at Princeton-area office building, C&W says

Dr. Reddy’s Laboratories has leased 53,000 square feet at a newly updated office complex outside Princeton, in one of two newly announced deals by Cushman & Wakefield.

Industrial
NAI Hanson promotes Todd to managing director, institutional services

NAI James E. Hanson has promoted a veteran broker, recognizing his role in dozens of deals in recent years and his growing roster of institutional clients.

People
STRO adds industry veteran Fitch as managing director of acquisitions, capital markets

The STRO Cos. has named a new managing director of acquisitions and capital markets to support its expansion beyond the Garden State.

Retail
Denholtz, beauty spa ink 2,000 sq. ft. lease to fill last retail space at The Rail at Red Bank

Denholtz Properties has filled the final retail space at a high-profile redevelopment project in Red Bank’s West Side neighborhood.

Industrial
KSR: Investment firm buys seven-acre Old Bridge industrial property for $7.6 million

Dalfen Industrial has added to its New Jersey portfolio with the acquisition of a nearly seven-acre parcel in Old Bridge, in a deal arranged by Kassin Sabbagh Realty.

Residential & Mixed Use
Journal Square Urby on track for spring 2024 delivery after 317-unit rental project tops out

The newest Urby-branded apartment tower in Hudson County has topped out in Jersey City’s Journal Square section, with less than a year to go until the completion of the 317-unit building.

Residential & Mixed Use
Boutique Jersey City apartment building trades for $412,000 per unit, KW says

A private investor has acquired an eight-unit apartment building in Jersey City for $3.3 million, in a transaction arranged by Keller Williams Realty Inc.

Office
Chilmark: Financial firm takes 9,600 sq. ft at Park Ridge office building

A new tenant is coming to a well-known office building in Park Ridge after leasing nearly 10,000 square feet at the property, brokers with Chilmark Real Estate Services announced.