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
Petrucci, PGIM sell 511,000 sq. ft. Phillipsburg warehouse for $110 million

A joint venture has sold a newly built, 511,200-square-foot industrial building in Phillipsburg for $110 million, allowing a Boston-based firm to expand its footprint in the state.

Professional Services
Mancini Duffy expands regional footprint with new Red Bank office

Design firm Mancini Duffy is marking the opening of a new regional office in Red Bank, its second in New Jersey and its third overall.

Government & Public Policy
EDA issues call for information to help launch fund for minority, women-owned developers

The state’s Economic Development Authority is seeking input from minority- and women-owned development firms, as it lays the groundwork for a $20 million funding program to help improve diversity in the real estate industry.

Industrial
Terreno buys 10-acre industrial parcel in Newark for $17.3 million

Terreno Realty Corp. has purchased a nearly 10-acre industrial property in Newark for $17.3 million, the Bellevue, Washington-based firm announced last week.

Retail
Two-way traffic creating “more connected” downtown in Hackensack, experts say

Business leaders in downtown Hackensack are marking one year since the return of two-way traffic on Main Street, touting an uptick in activity from residents and visitors alike.

Sponsored Content
Current trends in the post-COVID commercial leasing market: The reduced footprint and new considerations of the office

Everyone knows the most critical factor in the determination of cost of rentable square footage of leased space and the value of land is “location, location, location.” COVID has not changed this truism, but perhaps has rarified the implications.

Residential & Mixed Use
Pulte continues growth in New Jersey with key partnerships at transit hub developments

PulteGroup has become a key player in some of New Jersey’s largest mixed-use, transit-centric redevelopments over the past decade, having delivered or broken ground on some 1,300 for-sale homes near train stations in partnership with several leading developers.

Industrial
Somerset firm acquires 56,000 sq. ft. warehouse in Branchburg, GM Realty says

An affiliate of a Somerset-based pharmaceutical firm has acquired a 56,000-square-foot warehouse in Branchburg, according to the brokerage GM Realty Advisors Inc.

Office
Sheldon Gross, KW Commercial ink sale of 17,000 sq. ft. Neptune property

A private investor has purchased a 17,000-square-foot office and flex building in Neptune for $3.2 million, under a newly announced transaction by Sheldon Gross Realty.

Industrial
Landscaper buys Hunterdon site with outdoor storage, office space for growing business

A landscape design and maintenance firm has purchased a mixed-use property in Tewksbury that will provide new space for its growing business, in a deal arranged by NAI James E. Hanson.