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.

Deals
Gloucester Twp. sells ex-elementary school building, WCRE says

A school district in Camden County has sold a former elementary school building near Route 42, in a recent transaction by Wolf Commercial Real Estate.

Retail
Playa Bowls franchisee opens in Hunterdon for fourth location, Kraft Development says

Playa Bowls has continued its growth in the state with a franchisee’s new location in the Whitehouse Station section of Readington, according to Kraft Development II LLC.

Industrial
Mahwah industrial building fetches $20 million, trading for second time in two years

Sitex Group has purchased a nearly 85,000-square-foot industrial property in Mahwah for $20 million, in a recent transaction by Kassin Sabbagh Realty.

Residential & Mixed Use
Prism launches leasing at new 252-unit Dunellen rental property

Leasing is underway at Prism Capital Partners’ new 252-unit high-end apartment property in Dunellen, where the firm has brought new life to a former industrial site in the downtown.

Retail
Grid inks flurry of restaurant, retail leases among 16 deals in Hudson County

A new barbecue restaurant is coming to the base of a Jersey City apartment building, under one of several recent Hudson County retail leases by Grid Real Estate.

Retail
Family entertainment center takes 37,000 sq. ft. at Millville retail site, Irgang says

Irgang Group has inked a 36,500-square-foot anchor lease to bring Fun City Adventure Park, a family entertainment concept, to a 393,000-square-foot retail center in Millville.

People
LMC promotes two to vice president roles

Levin Management Corp. has announced two executive promotions, touting its sustained growth and transaction volume across a nearly 16 million-square-foot portfolio.

Residential & Mixed Use
Newark, East Newark portfolio with 20 apartments trades for $3.2 million, Kislak says

A partnership has sold a three-building, 20-unit apartment portfolio in Newark and East Newark for nearly $3.2 million, according to a brokerage team with The Kislak Co. Inc.

Office
PNC inks 26,000 sq. ft. office lease at Overlook Corporate Center, JLL says

PNC Bank has taken more than 26,000 square feet at Overlook Corporate Center in Little Falls, in one of two newly announced leases at the property by JLL.

Residential & Mixed Use
RIPCO: Buyer wanted for new 59-unit Hudson County apartment building

The developer of a new 59-unit luxury apartment building in North Bergen is seeking a buyer for the property, brokers with RIPCO Real Estate announced Wednesday.