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
Hartz sells 567,000 sq. ft. Wayne industrial complex to Ares for $138.5 million

Hartz Mountain Industries has sold a nearly 570,000-square-foot industrial complex in Wayne to an affiliate of Ares Management, in a recent deal valued at more than $138 million.

Residential & Mixed Use
Two-building, 36-unit Rahway apartment portfolio sells for $8 million, Berkadia says

A private partnership has sold a two-building, 36-unit apartment portfolio in downtown Rahway for $8 million, in a recent deal by Berkadia’s New Jersey office.

Professional Services
IOREBA installs First American’s Greif as president among newest board officers

The Industrial and Office Real Estate Brokers Association has installed its new slate of board officers for the 2022-23 term.

Government & Public Policy
EDA details $400,000 grant program to help revitalize vacant, underused public sites

The state Economic Development Authority is now accepting applications for a program that could help breathe new life into vacant and underutilized public assets.

Retail
Gregory’s Coffee signs lease in Hazlet for newest Garden State location

Gregory’s Coffee has expanded its footprint in New Jersey with a recent 1,500-square-foot lease in Hazlet, in a deal arranged by R.J. Brunelli & Co. LLC.

Industrial
Food-focused investor buys Vineland facility in $23 million sale-leaseback

An investor has acquired a food production and distribution facility in Vineland for nearly $23 million, marking its second such deal in southern New Jersey in less than a year.

Industrial
Outdoor storage investor adds eight-acre site in Edison, marking its first New Jersey deal

A national investor has made its entrance to New Jersey with the purchase of an eight-acre construction yard in Edison, according to brokers with NAI James E. Hanson.

Office
NJCC leases 24,000 sq. ft. in New Brunswick for new headquarters, C&W says

Cushman & Wakefield has negotiated a 24,259-square-foot lease in New Brunswick for New Jersey Community Capital, the state’s largest community development financial institution.

Retail
BRC: Tractor Supply Co. renews for 25,000 sq. ft. at Flanders retail center

An outdoor lifestyle retailer has renewed its 25,000-square-foot lease at a Morris County shopping center, brokers with Bussel Realty Corp. announced Monday.

Professional Services
Zoltek names new sales associate for Fair Lawn-based team

Zoltek Commercial Real Estate Services has hired Mario Pereira as a sales associate with its Fair Lawn-based brokerage team, touting his more than 20 years of business experience.