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
BRC completes 4,000 sq. ft. lease at Roselle industrial building

The owner of a Roselle industrial building has signed a new 4,000-square-foot lease at the property, in a newly announced transaction by Bussel Realty Corp.

Top News
Prudential, Mellon Foundation gift $2.75 million for Newark Symphony Hall transformation

Prudential Financial and the Mellon Foundation have gifted a combined $2.75 million to Newark Symphony Hall in support of the venue’s ongoing renovation and programming update.

Deals
Kislak inks sale of 78 apartments in Pennsylvania, in deals totaling $8.2 million

The Kislak Co. Inc. has completed three new deals in Central Pennsylvania, arranging the sale of 78 apartments for a combined $8.2 million.

Industrial
Hartz sells 567,000 sq. ft. Wayne industrial complex to Ares for $138.5 million

Hartz Mountain Industries has sold a nearly 570,000-square-foot industrial complex in Wayne to an affiliate of Ares Management, in a recent deal valued at more than $138 million.

Residential & Mixed Use
Two-building, 36-unit Rahway apartment portfolio sells for $8 million, Berkadia says

A private partnership has sold a two-building, 36-unit apartment portfolio in downtown Rahway for $8 million, in a recent deal by Berkadia’s New Jersey office.

Professional Services
IOREBA installs First American’s Greif as president among newest board officers

The Industrial and Office Real Estate Brokers Association has installed its new slate of board officers for the 2022-23 term.

Government & Public Policy
EDA details $400,000 grant program to help revitalize vacant, underused public sites

The state Economic Development Authority is now accepting applications for a program that could help breathe new life into vacant and underutilized public assets.

Retail
Gregory’s Coffee signs lease in Hazlet for newest Garden State location

Gregory’s Coffee has expanded its footprint in New Jersey with a recent 1,500-square-foot lease in Hazlet, in a deal arranged by R.J. Brunelli & Co. LLC.

Industrial
Food-focused investor buys Vineland facility in $23 million sale-leaseback

An investor has acquired a food production and distribution facility in Vineland for nearly $23 million, marking its second such deal in southern New Jersey in less than a year.

Industrial
Outdoor storage investor adds eight-acre site in Edison, marking its first New Jersey deal

A national investor has made its entrance to New Jersey with the purchase of an eight-acre construction yard in Edison, according to brokers with NAI James E. Hanson.