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
Value Cos. leases up second phase of new Randolph apartments, breaks ground on third

Value Cos. is continuing its expansion of a sprawling apartment complex in Randolph after leasing up a newly completed phase and starting construction on another.

Office
Boutique office building in Trenton’s capital district listed for $6 million, Cushman says

The owner of an office building directly across from the New Jersey Capitol Complex in Trenton is seeking a buyer for the asset, according to a listing team with Cushman & Wakefield.

Residential & Mixed Use
Paramus tract slated for 40 townhomes after changing hands, NAI Hanson says

A developer has acquired four acres in Paramus with plans to build more than three dozen townhomes, brokers with NAI James E. Hanson announced Tuesday.

Education
UCNJ kicks off DIGroup-designed update, expansion of Cranford athletics center in $30 million investment in new campus hub

Construction is underway on a major update of an athletics facility at Union College of Union County’s Cranford campus, in a project designed by DIGroup Architecture.

Top News
NJ Transit plans RFP for ‘destination’ anchor for restored Hoboken ferry terminal

NJ Transit is seeking a new anchor tenant for the 117-year-old Lackawanna Ferry Terminal that it’s restoring as part of its sweeping Hoboken Connect redevelopment project with LCOR.

Residential & Mixed Use
Hyperion, Benenson JV buys 314-unit Cliffside Park rental property for $165 million

A newly formed joint venture has made its first deal, acquiring a 314-unit luxury apartment property in Cliffside Park as part of a $165 million transaction announced Monday.

Industrial
Sitex Group, reverse logistics firm ink lease for new-look industrial property near Exit 12

Sitex Group has repositioned a low-coverage industrial site in the Avenel section of Woodbridge, securing a lease with a fast-growing reverse logistics company.

Industrial
BRC: Budd Development scores full-building, 42,000 sq. ft. industrial lease in Dayton

Budd Development Co. has signed a full-building tenant for a 42,000-square-foot industrial property in South Brunswick’s Dayton section, according to a broker with Bussel Realty Corp.

Retail
Investor buys 5,000 sq. ft. Totowa retail center for $2.2 million, Marcus says

A local investor has purchased a nearly 5,000-square-foot strip center in Totowa for more than $2.2 million, in a newly announced deal by Marcus & Millichap.

Retail
McDonald’s takes 4,500 sq. ft. for new store in Oakland, Goldstein Group says

A new McDonalds is coming to a key thoroughfare in Oakland after a 4,500-square-foot lease arranged by The Goldstein Group, the brokerage team announced Monday.