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.

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.

Industrial
Branchburg industrial condos totaling 15,000 sq. ft. trade for $2.7 million, Deluccia says

Deluccia Commercial Group has brokered the sale of three contiguous, 5,000-square-foot industrial condominium units in Somerset County for $2.7 million.

Residential & Mixed Use
Investors wanted for iconic Hahne & Co. mixed-use property in Newark, W&D says

The team behind the restoration of the historic Hahne & Co. building in Newark is seeking investors for the property, in a newly announced offering by Walker & Dunlop.

Industrial
Sitex adds 40,000 sq. ft. Avenel industrial building for $20 million, in short-term sale-leaseback

Sitex Group has purchased a 40,000-square-foot industrial building in the Avenel section of Woodbridge for $19.7 million, in a newly announced deal by Bussel Realty Corp.

Finance & Capital Markets
JLL: Developer of new 30-unit apartment building in Norwood refis for $10 million

JLL has arranged $10 million in refinancing for a recently completed, 30-unit apartment building in the Bergen County borough of Norwood.