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
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.

Editor’s Note
High stakes for CRE

Advocacy is central to a four-year strategic plan that NAIOP New Jersey unveiled at the start of 2025, as are other key goals such as creating new value for NAIOP members and improving the perception that public officials, residents and other outside stakeholders have of the commercial real estate sector. The blueprint also calls for elevating the chapter’s position in the industry, enhancing partnerships with academia and expanding its community service programs.

Residential & Mixed Use
Former ASCO headquarters site in Florham Park sold, slated to become senior housing

The site of a vacant office building in Florham Park is now slated for redevelopment, with plans calling for new senior housing after a sale arranged by Cushman & Wakefield and RePropCo.

Health Care
First phase of New Brunswick’s HELIX campus enters final stages of construction (VIDEO)

The landmark HELIX NJ project is approaching another milestone, with only six months to go until the district’s first building makes its full-fledged debut in downtown New Brunswick.

Office
JLL: Food importer Gellert Global buys 146,000 sq. ft. Madison building for new headquarters

A global food importer has acquired a more than 146,000-square-foot office building on Madison’s historic Giralda Farms campus, in a newly announced deal by JLL.

Events
NAIOP expecting sell-out for Nov. 3 President’s Awards in East Brunswick

NAIOP New Jersey is nearing a sell-out of next week’s President’s Awards and Hall of Fame Dinner, one of the commercial real estate organization’s most popular events of the year.