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.

People
Diversified Properties names vice president of land development

A veteran engineer and development executive has joined Diversified Properties, in a move that bolsters the in-house team of the Montville-based commercial real estate firm.

Retail
Ulta Beauty taking 10,000 sq. ft. at Woodbridge retail center, LMC says

Ulta Beauty has signed a 10,000-square-foot lease to come to a Woodbridge shopping center, under a newly announced deal by Levin Management Corp.

Industrial
Sheldon Gross: Novartis subsidiary expands in Millburn, acquires 5,000 sq. ft. building

A life sciences company has expanded its footprint in Millburn with its purchase of a 5,000-square-foot commercial building, according to brokers with Sheldon Gross Realty.

Professional Services
BLS & Co. expands site selection, incentives team with newest hire

Biggins Lacy Shapiro & Co. LLC has added to its Princeton-based team with the hiring of a new site selection and incentives consultant.

Residential & Mixed Use
Developer touts continued interest at 79-story condo tower in Jersey City

The developer of a new 79-story condominium building in Jersey City is approaching 200 closings, as it rides continued momentum during the spring selling season.

Retail
Fitness, beauty tenants coming to Cherry Hill shopping center

Two new tenants are coming to a Cherry Hill shopping center, under a set of newly announced leases by Vantage Commercial.

Office
KBS sells 630,000 sq. ft. Woodbridge office campus for $88 million, with Newmark as broker

KBS has sold a nearly 630,000-square-foot office campus in Woodbridge for $88 million, in a transaction arranged by Newmark’s New Jersey-based capital markets team.

Office
Accordia touts 25,000 sq. ft. lease with lab company among recent Elmwood Park deals

Accordia Realty Ventures has completed several recent deals at a pair of Elmwood Park office buildings, including a headquarters lease with a well-known health care company.

Government & Public Policy
EDA opens application period for grant program aimed at stranded office, retail buildings

The state Economic Development Authority is now accepting applications for a grant program aimed at helping communities revitalize underutilized retail or office properties.

Retail
Pizzeria, ice cream shop join retailers at new mixed-use project in Washington Township

Two additional retail tenants are coming to a new mixed-use project that has transformed 35 acres in the South Jersey community of Washington Township.