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
Canoe Brook debuts 220-unit luxury rental property in Warren, filling a key housing need

Canoe Brook Development has unveiled a collection of 220 luxury apartments in Warren, delivering the township’s first large-scale rental property to a site just off Interstate 78.

Education
Students tour new Russo, Hero Development projects to cap off ULI’s UrbanPlan program in East Brunswick, East Orange schools

The developers of new apartment buildings in New Brunswick, East Brunswick and East Orange welcomed students to the properties recently as part of an Urban Land Institute program that exposes high schoolers to commercial real estate planning and construction.

Industrial
NAIDB named leasing broker for East Brunswick, Union Township industrial buildings

The owner of a 21,000-square-foot industrial building in East Brunswick has tapped NAI DiLeo-Bram & Co. as its leasing team, in one of two new assignments for the real estate services firm.

People
Doyle joins Red Bank-based Denholtz as human resources director

Denholtz has hired Kira Doyle as its new director of human resources, adding a seasoned professional in the space to support its growing team.

Office
Personal injury law firm takes 1,400 sq. ft. at Sanzari’s Court Plaza campus in Hackensack

Alfred Sanzari Enterprises has secured another tenant for Court Plaza, its office campus in downtown Hackensack, inking a nearly 1,400-square-foot lease with a personal injury law firm.

Editor’s Note
System updates

As you’ll read in this month’s cover story, New Brunswick is marking its latest and perhaps most monumental investment in health care with the opening of the 12-story, 520,000-square-foot Jack & Sheryl Morris Cancer Center. Executives with RWJBarnabas Health, the Rutgers Cancer Institute and other key stakeholders unveiled the facility in mid-May, hailing the arrival of New Jersey’s first freestanding cancer hospital and one of only 13 in the country, part of a $1 billion project that has brought top-tier patient care and cutting-edge research labs under one roof.

Industrial
Saxum, Penwood eye new warehouse project in Parsippany after buying vacant office building

Another vacant office building in Parsippany is set to come down as part of a joint venture’s plan to construct a new 128,000-square-foot speculative warehouse just north of Route 10.

Residential & Mixed Use
Marcus: Buyer wanted for approved 2,400-unit development site in downtown Newark

The owner of a high-profile development site in Newark — where city officials have approved plans for more than 2,400 new residential units — has put the property on the market.

Health Care
JLL launches marketing for plug-and-play lab suites at New Brunswick’s HELIX district

The team behind the sweeping Health + Life Science Exchange campus in New Brunswick is seeking tenants for a group of prebuilt laboratory and office suites, part of a 574,000-square-foot building that’s slated to open later this year.

Finance & Capital Markets
Developer inks $81 million refi of new 200-unit rental property in Jersey City, C&W says

The owner of a new 200-unit luxury apartment building in Jersey City has refinanced the property for $81 million, brokers with Cushman & Wakefield announced Tuesday.