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
Industrial outdoor storage parcel with 5,000 sq. ft. shop facility trades in South Amboy

The site of a vacant mechanic’s shop and office facility in South Amboy has changed hands to a new user, in a deal arranged by Cushman & Wakefield.

Government & Public Policy
Westfield OKs changes to closely watched plan for new office, residential buildings downtown

A high-profile redevelopment project in Westfield is moving ahead with key changes, following the town’s approval of a plan that now includes nearly 200,000 square feet of office space, 205 residential units and a series of public improvements and new green spaces downtown.

Industrial
Maersk subsidiary takes 1.2 million sq. ft. at new LogiPropCo warehouse in Cinnaminson

A developer has landed a tenant for a new 1.2 million-square-foot warehouse in Burlington County, reportedly inking a full-building lease with a unit of shipping giant Maersk.

Residential & Mixed Use
Hampshire hits 50 percent leased milestone at new 270-unit Hackensack rental property

The Hampshire Cos. has rented more than 50 percent of its new 270-unit luxury apartment building in downtown Hackensack, following the launch of leasing earlier this year.

Professional Services
Ware Malcomb promotes Breda to director, architecture, with Newark-based team

Ware Malcomb has elevated Claudio Breda to director, architecture, in its Newark office, in the industry veteran’s second promotion since joining the design firm in 2021.

Office
Condo sales in Hillsborough, Green Brook among latest commercial deals by Boniakowski

An investor has purchased a nearly 1,200-square-foot medical office condominium in Hillsborough, in one of two new deals by The Boniakowski Commercial Real Estate Group.

Residential & Mixed Use
Kislak: Developer sells new boutique rental building in Jersey City for $625,000 per unit

Legacy Development Group has sold a new 31-unit luxury apartment building in Jersey City for $20 million — a per-unit price of $625,000 — in a deal arranged by The Kislak Co. Inc.

Residential & Mixed Use
Value Cos. completes first round of energy upgrades at North Jersey rental properties

Value Cos. Inc. has completed the first phase of energy efficiency upgrades at five North Jersey apartment properties, providing major benefits to residents of nearly 1,000 units.

Health Care
West Orange medical office building trades for $2.5 million, NAI Hanson says

An investor has sold a 10,000-square-foot medical office building in West Orange for $2.5 million, brokers with NAI James E. Hanson announced Thursday.

Retail
JLL: 98,000 sq. ft. East Hanover retail property on the market for sale

A real estate investment trust is seeking a buyer for more than 98,000 square feet of retail space on Route 10 in East Hanover, having retained JLL to market the property.