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
Home Depot affiliate takes 196,000 sq. ft. at new Bayonne industrial building

An affiliate of Home Depot has leased nearly 200,000 square feet at a soon-to-be-built industrial property in Bayonne, in a newly announced deal by JLL.

Finance & Capital Markets
JLL inks $12 million refi for two-building, 114,000 sq. ft. industrial portfolio in Elmwood Park

Alfred Sanzari Enterprises has secured $12.2 million to refinance two Elmwood Park industrial buildings totaling nearly 114,000 square feet, brokers with JLL announced Tuesday.

Residential & Mixed Use
Sanzari, apparel maker sign 36,000 sq. ft. renewal in South Hackensack

An apparel company has signed a renewal at a South Hackensack industrial building, where it occupies more than 36,000 square feet under a lease with Alfred Sanzari Enterprises.

Residential & Mixed Use
Boutique apartment building in Bergen-Lafayette is 50 percent leased

A new 38-unit apartment building in Jersey City’s Bergen-Lafayette section is now more than 50 percent leased after hitting the market earlier this year.

Government & Public Policy
Recreational cannabis sales in New Jersey jump 46 percent, top $116 million in Q3

Sales of recreational cannabis in New Jersey rose to more than $100 million in the third quarter, showing the potential of a market that launched less than eight months ago.

Government & Public Policy
State completes sale of 36-acre Fort Monmouth parcel slated for RWJBarnabas campus

The state has completed its sale of a 36-acre parcel at Fort Monmouth — the onetime home of a Cold War-era research complex — where plans call for a long-awaited, sprawling health care campus to be operated by Monmouth Medical Center.

Retail
Federal Realty buys ex-bank property in downtown Hoboken, Pierson says

The site of a former bank branch in downtown Hoboken has traded for $9 million, in a newly announced deal by Pierson Commercial.

Residential & Mixed Use
New 337-unit rental complex rising in Jersey City’s West Side neighborhood, JRM says

Construction is progressing on a new 337-unit luxury apartment building in Jersey City’s fast-changing West Side neighborhood, the project’s general contractor said Monday.

Office
WCRE: Conrail takes 32,000 sq. ft. at Mount Laurel office building

Conrail has leased more than 32,000 square feet at a recently updated office building in Mount Laurel, according to a brokerage team with Wolf Commercial Real Estate.

Industrial
Brookfield buys site of Kearny freight transfer facility for $67 million

Brookfield Asset Management has acquired the site of a nearly 57,000-square-foot industrial building in Kearny, in a deal reportedly valued at $67.25 million.