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
TFE acquires distinctive 12,000 sq. ft. retail property in downtown Westfield

TFE Properties LLC has purchased a former bank building in downtown Westfield that in recent years has been home to an Urban Outfitters store, the firm announced.

Industrial
Manufacturer relocates, expands at Larken’s Hillsborough Business Center

A tenant at Larken Associates’ sprawling industrial park in Hillsborough is expanding once again after signing a new lease for nearly 1,100 square feet.

Office
Turtle & Hughes moving HQ to Clark, in 27,000 sq. ft. lease with Signature Acquisitions

Turtle & Hughes, a national distributor of electrical and industrial equipment, is moving its corporate offices to Clark under a newly announced lease by Signature Acquisitions.

Industrial
Investor eyes 586,000 sq. ft. warehouse project after buying Salem County parcels

An investment group has purchased a 48-acre development site in Salem County, seeking to expand its holdings and capitalize on growing industrial rents in the region.

Professional Services
Greenbaum’s Mlenak elected V.P. of Community Associations Institute N.J. chapter

A top redevelopment and land use attorney with Greenbaum Rowe Smith & Davis LLP has been elected vice president of the Community Associations Institute’s New Jersey chapter.

Office
South Bound Brook office building sold to municipality for $1.1 million, Deluccia says

The Borough of South Bound Brook has purchased an 8,300-square-foot office building in the municipality, in a newly announced deal by Deluccia Commercial Group.

Retail
Levin Management inks 1.4 million sq. ft. in 2022 lease volume, as retail rebounds

Levin Management Corp. is marking a record year in leasing, thanks in part to a continued bounce back for brick-and-mortar retail in its regional footprint and across the U.S.

Industrial
Petrucci: New Lehigh Valley flex park is fully leased after deal with pharma distributor

J.G Petrucci Co. Inc. has signed a new 40,000-square-foot lease in the Lehigh Valley, bringing a three-building industrial park to full occupancy after a phased buildout starting in 2019.

Industrial
Penwood fund buys 97,000 sq. ft. Meadowlands industrial building for $31 million

Penwood Real Estate Investment Management has expanded its footprint in the Meadowlands, where a fund operated by the firm has acquired a nearly 97,000-square-foot industrial building.

Government & Public Policy
Murphy calls for expanding liquor licenses in New Jersey, making pitch for long-stalled reform

A long-awaited reform to New Jersey’s liquor license laws could be coming soon, as indicated Tuesday by Gov. Phil Murphy, who cast the overhaul as a top priority during his State of the State address and previewed a plan to tackle the hot-button issue.