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
Goodwill eyes five new locations in N.J., N.Y. amid growing demand for sustainable fashion

Goodwill Industries of Greater New York and Northern New Jersey Inc. will open up to five new retail locations in the region to meet the continued demand for its services and the growing resale fashion market, the organization announced Monday.

Top News
Scholarship honoring late Hanover mayor awarded to two engineering students, JMF says

Two students at Whippany Park High School will split a $10,000 scholarship created to honor a former mayor of Hanover Township, with support from locally based JMF Properties.

Office
SJP, Scotto break ground on Valley Bank’s new 120,000 sq. ft. headquarters in Morristown

Construction is underway on Valley Bank’s future headquarters in Morristown, where it will lease 120,000 square feet of new office space built by SJP Properties and Scotto Properties.

Residential & Mixed Use
Skye Development welcomes renters to new 98-unit Bayonne property

A developer has welcomed its first residents to a new phase of luxury apartments in Bayonne, having recently unveiled 98 rental units alongside a building that it completed in 2019.

Deals
STRO adds 53,000 sq. ft. commercial building in Paramus

The STRO Cos. has purchased a nearly 53,000-square-foot commercial building in Paramus, in a transaction arranged by Jeffery Realty.

Residential & Mixed Use
BNE’s Station Bay in South Amboy more than 50 percent leased, developer says

Leasing has surged at a new 291-unit apartment complex that opened earlier this year along the Raritan Bay in South Amboy, developer BNE Real Estate Group announced this week.

Office
PTC Therapeutics takes 360,000 sq. ft. at Warren office campus in lease with Rubenstein, Vision

PTC Therapeutics has leased 360,000 square feet for a new corporate headquarters in Warren, in a deal that marks one of New Jersey’s largest office leases of the past decade.

Professional Services
Fauer retires as head of ESA Environmental, with Martell taking over as CEO and owner

The founder and longtime owner of ESA Environmental Consultants has stepped down, having handed the reins to his second-in-command at the Middlesex-based firm.

Industrial
Penwood fund buys 276,000 sq. ft. Bordentown industrial building for $60 million

An investment manager has acquired a nearly 280,000-square-foot industrial building in Bordentown for $60 million, in a newly announced transaction by Cushman & Wakefield.

Residential & Mixed Use
Kushner begins tear-down of East Hanover office building, eyeing 265 luxury apartments

Kushner has started its demolition of another aging suburban office building, this time in East Hanover, paving the way for what will be a new 265-unit luxury apartment complex.