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
Division of HVAC giant Watsco takes 24,000 sq. ft. at Lakewood warehouse

A subsidiary of HVAC distributor Watsco Inc. has leased 24,000 square feet of warehouse space in Lakewood, according to a legal team with Bertone Piccini LLP.

Health Care & Education
Health care system buys 63,000 sq. ft. Clifton medical office building, NAI Hanson says

A regional health care system is expanding with its purchase of a 63,000-square-foot medical office building in Clifton, brokers with NAI James E. Hanson announced.

Finance & Capital Markets
Northmarq inks $9 million refi of 54-unit Hackensack rental building

The owner of a 54-unit apartment building in Hackensack has secured $9 million to refinance the property, in a transaction arranged by Northmarq.

Professional Services
JLL adds prominent brokerage duo to New York City retail team

JLL has made another two high-profile additions to its brokerage team in the region, this time in the retail sector.

Top News
Developer eyes Q1 groundbreaking for massive studio campus in Bayonne, Turner says

Construction is set to begin early next year on a planned 1.5 million-square-foot film and television studio complex in Bayonne, according to a team with Turner Construction Co.

Industrial
JLL: Buyer sought for Middlesex County industrial buildings totaling 574,000 sq. ft.

Two industrial buildings in Middlesex County have hit the market for sale, with the potential to trade for a combined price of around $170 million.

Government & Public Policy
Hudson Bay eyes sweeping redevelopment plan for Lord & Taylor site, downtown Westfield

Hudson’s Bay Co. has unveiled a plan to transform the site of a vacant Lord & Taylor building in downtown Westfield and several adjacent blocks, with a proposal that includes nearly 340,000 square feet of office and retail space and more than 200 residential units.

Industrial
Marcus Partners adds Middlesex industrial property for $37 million, Lee & Associates says

A private owner has sold a two-building, 200,000-square-foot industrial property in Middlesex County, brokers with Lee & Associates New Jersey announced Wednesday.

Office
JRM touts new build-out of 99,000 sq. ft. WebMD office in Newark (SLIDESHOW)

JRM Construction Management has completed its build-out of a two-level, 99,000-square-foot office space in Newark that will house the online health publisher WebMD.

Professional Services
AST expands platform with launch of residential brokerage model

Real estate firm development and financing firm AST has launched a new brokerage division, marking a new offering for homebuilders and another piece of its growing platform.