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.

Retail
Cannabis shop leases 1,000 sq. ft at new Somerset apartment building, BRC says

A recreational cannabis dispensary has taken 1,000 square feet at the base of a new apartment building in Franklin, brokers with Bussel Realty Corp. announced Monday.

Residential & Mixed Use
Accurate: First renters arrive at new luxury apartment building in Bound Brook

Accurate has welcomed the first residents at Citizen Bound Brook, the developer’s new 105-unit luxury apartment building in the Somerset County borough.

Industrial
Hartz, event technology firm ink 46,000 sq. ft. industrial lease in Secaucus, Newmark says

A technology firm serving the global events industry has signed a new 46,000-square-foot industrial lease in Secaucus, in a newly announced deal by Newmark.

Finance & Capital Markets
JLL sources $35 million construction loan for latest Hampshire, Invesco warehouse project

Invesco Real Estate and The Hampshire Cos. have obtained a $34.5 million construction loan to build nearly 188,000 square feet of new industrial space in Bergen County.

Government & Public Policy
Greek postpones implosion at ex-Nabisco complex in Fair Lawn

Greek Development has postponed an implosion at the former Nabisco complex in Fair Lawn — where it’s slated build a new ground-up distribution center — amid residents’ calls for expanded environmental testing at the historic property.

Residential & Mixed Use
Joint venture acquires 101-year-old Divine Riviera Hotel in Newark, in LRES-brokered deal

A local buyer has purchased a historic and culturally significant hotel in Newark’s Central Ward, in a newly announced deal by Logistics Real Estate Services.

Retail
LMC: Rare anchor space to come available at Edgewater retail complex

An anchor retail space will soon be available at a prominent mixed-use development in Edgewater, offering 24,000 square feet at a site that draws more than 1 million visits per year.

Health Care & Education
Atkins, Denholtz acquire 490,000 sq. ft. health care campus in Westchester County

Atkins Cos. and Denholtz Properties have teamed to acquire a 490,000-square-foot health care and medical office campus in Westchester County.

Residential & Mixed Use
KRE Group breaks ground on 239-unit rental project at ex-Mondelez site in East Hanover

Kushner Real Estate Group has broken ground on a new 239-unit luxury apartment property in East Hanover, as it expands its portfolio of garden-style multifamily assets.

Office
Veris Residential completes $420 million sale of 1.9 million sq. ft. Harborside complex

Veris Residential Inc. has completed its high-profile, $420 million sale of Harborside buildings 1, 2 and 3 in Jersey City, the real estate investment trust said Wednesday.