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.

Christie, lawmakers reach deal to fund road projects

A bipartisan deal, unveiled Friday at the Statehouse, calls for raising the state’s gas tax for the first time since 1988 to replenish the Transportation Trust Fund. The 23-cent-per-gallon increase will fund a $2 billion TTF plan over the next eight years, with 100 percent of gas tax revenues constitutionally dedicated to repair and replace the state’s roads and bridges.

Essex County office park offers reuse potential, HFF says

A four-building, 403,379-square-foot office park has hit the market in West Orange.

What makes N.J. attractive to growing companies?

A panel discussion hosted by NAIOP New Jersey focused on why and how “next-generation” companies are able to grow in the Garden State — and how the commercial real estate industry can support them in their growth.

After legal victory, American Dream developer looks to bond sale

The developer seeking to complete the American Dream Meadowlands project is moving ahead with plans to seek $1.15 billion in bonds for the project, now that an opposition group has agreed to drop its challenge.

Levin hires new VP of property management

Gilbert Bankston has joined Levin Management as vice president of property management, the real estate services firm announced Thursday.

Three new associates bolster NAI Hanson sales team

NAI James E. Hanson has hired three new sales associates to join its growing team in Parsippany, the commercial real estate firm announced Wednesday.

Russo details mixed-use plans for iconic Hess property

The landmark Hess tower in Woodbridge may be getting some company in the years ahead. That’s according to a plan laid out Wednesday by developer Ed Russo, whose firm is part of a joint venture that aims to acquire and transform some 30 acres around the iconic building. He said the Carlstadt-based firm and its partner, Onyx Equities, intend to build a mixed-use community with roughly 600 residential units and 40,000 square feet of retail space.

Ridgewood design firm oversees expansion of life sciences facility

Poskanzer Skott Architects has designed an expansion of a life sciences facility in Allendale for a longtime client focused on the cell therapy industry, the firm announced Wednesday.

Value-add group acquires Mack-Cali building in Bergen County

Mack-Cali Realty Corp. has sold a 208,000-square-foot office building in Upper Saddle River, in a $19.7 million sale brokered by CBRE.

HFF marketing Hoboken apartment complex

The owner of a two-building, 128-unit apartment complex in Hoboken has tapped HFF to sell the property, with brokers touting a “substantial value-add potential” in the state’s strongest rental submarket.