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
Penwood fund buys 97,000 sq. ft. Meadowlands industrial building for $31 million

Penwood Real Estate Investment Management has expanded its footprint in the Meadowlands, where a fund operated by the firm has acquired a nearly 97,000-square-foot industrial building.

Government & Public Policy
Murphy calls for expanding liquor licenses in New Jersey, making pitch for long-stalled reform

A long-awaited reform to New Jersey’s liquor license laws could be coming soon, as indicated Tuesday by Gov. Phil Murphy, who cast the overhaul as a top priority during his State of the State address and previewed a plan to tackle the hot-button issue.

Professional Services
Avison Young taps Stone as New Jersey market leader, with Heller set to focus on brokerage

Avison Young has named a new leader of its New Jersey team, eyeing continued growth in the region after launching its first office here more than a decade ago.

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.