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
Massive ex-manufacturing site in Sayreville to be reborn as 1.1 million sq. ft. logistics hub

A long-dormant and formerly contaminated site in Sayreville, once home to gunpowder and chemical plants, is finding new life under a development that will add more than a million square feet of modern industrial space to the market in Central Jersey. The three-building Arsenal Trade Center also promises to bring new jobs and ratables to the Raritan Bay region. Experts say that, while players like Amazon are stepping back from warehouse and logistics expansion in the state, the market for such properties remains robust.

Industrial
Coffee, cocoa warehouser inks 406,000 sq. ft. renewal in Carteret, NAI Hanson says

A warehousing business that occupies more than 400,000 square feet in Carteret has renewed its lease at the property, brokers with NAI James E. Hanson announced Wednesday.

Residential & Mixed Use
Kislak: Investor buys 130-unit Vineland apartment complex for $18.3 million

A private investor has purchased a 130-unit garden apartment complex in Vineland for more than $18 million, in a newly completed deal by The Kislak Co. Inc.

Industrial
C&W: Denville industrial building trades for $7.2 million

Cushman & Wakefield has negotiated the sale of a multitenant, 42,000-square-foot industrial property in Denville for $7.2 million.

Industrial
Sitex, logistics firm ink 40,000 sq. ft. lease in Avenel, BRC says

A logistics firm has taken 40,000 square feet of industrial space in the Avenel section of Woodbridge, according to a broker with Bussel Realty Corp.

Office
SJP tops out new Valley headquarters project in Morristown, eyes spring 2023 delivery

Valley National Bank’s new headquarters in Morristown is on track to open next spring after the completion of vertical construction at the downtown site, its developer announced Wednesday.

Retail
KABR, BTF acquire 125,000 sq. ft. Rockland County retail center, in JLL-brokered deal

The KABR Group and BTF have purchased a grocery-anchored retail center in Rockland County for $30 million, in a deal by JLL’s Morristown-based capital markets team.

People
Bergman names new director of acquisitions

Bergman Real Estate Group has announced a new hire to spearhead acquisitions activity and expand its portfolio across a variety of asset classes.

Residential & Mixed Use
Skylight, PCCP acquire 276-unit Fort Lee rental property for $117 million, CBRE says

A joint venture has acquired 276 luxury apartments in Fort Lee for $116.5 million, marking another high-profile addition to its portfolio along the Hudson waterfront.

Residential & Mixed Use
Edgewood affiliate breaks ground on project with 360 rentals, hotel in Gloucester Twp.

Construction is underway on a project that will bring 360 apartments and a hotel to a site that’s adjacent to Route 42 and just minutes from Camden County College in Gloucester Township.