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
Jersey Mike’s takes 1,800 sq. ft. at Burlington County shopping center, LMC says

Fast-casual franchise Jersey Mike’s Subs has inked an 1,800-square-foot lease at Hartford Corners in Delran Township, brokers with Levin Management Corp. announced.

Residential & Mixed Use
Buzzworthy

As you’ll read in this month’s cover story, the large, high-profile office deal is alive and well in the pandemic’s aftermath, as blue-chip employers make major investments in their physical footprint. That’s evident by several outsized leases in New Jersey this year of 100,000 square feet or greater, and market experts say there are likely more to come, as corporations look to support their growth while creating a “commute-worthy” environment for its distributed workforce.

Finance & Capital Markets
Provident, Lakeland to merge in $1.3 billion deal that will fortify CRE lending platforms

Provident Bank and Lakeland Bank are joining forces under a $1.3 billion merger announced Tuesday, bringing together two key lenders in the state’s commercial real estate sector.

Industrial
Joint venture breaks ground on 1.1 million sq. ft. logistics park four miles from N.J. Turnpike

Construction is underway on a project that will bring nearly 1.1 million square feet of high-end industrial space to a 74-acre former chemical plant site in Sayreville.

People
Diversified Properties taps Leifer as director of acquisitions, development

Diversified Properties has hired a longtime real estate executive as its new director of acquisitions and development, the Montville-based firm announced.

Industrial
Newark’s Ballantine Industrial Center fully leased after 21,000 sq. ft. deal, NAI Hanson says

A business that serves the fashion industry has expanded its footprint at the former Ballantine Brewery complex in Newark, bringing the sprawling property to full occupancy.

Retail
JRM details new store fit-outs for Peloton, Versace at The Mall at Short Hills

Two well-known retailers have debuted new spaces at The Mall at Short Hills after fit-out projects by JRM Construction Management, the firm announced Tuesday.

Top News
L’Oréal details plan for new $140 million research, innovation center in Clark

L’Oréal USA has unveiled plans for a new $140 million research and innovation center in Clark, where it’s replacing facilities that it has occupied in the area for more than six decades.

Industrial
Prologis, Dotcom Distribution ink 400,000 sq. ft. extension in Edison, Avison Young says

Prologis Inc. and Dotcom Distribution, an e-commerce fulfillment provider, have signed a lease extension for more than 400,000 square feet of industrial space in Edison.

Office
Two-story, 49,000 sq. ft. Manalapan office building trades for $4.3 million

The longtime owner of a 49,000-square-foot office building in Monmouth County has sold the property for $4.3 million, in a deal arranged by NAI DiLeo-Bram & Co.