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.

Office
The S.Hekemian Group, Valley Health ink 60,000 sq. ft. lease at ‘North Market’ in Montvale

Another tenant is coming to a high-profile redevelopment site in Montvale, under a 60,000-square-foot lease between The S.Hekemian Group and Valley Health System.

Top News
JLL: Buyer wanted for 127,000 sq. ft. CAE training center in Whippany

The site of a fully leased aviation training center in Morris County is on the market for sale, in a newly announced offering by JLL’s New Jersey capital markets team.

Industrial
Distributor, sponge maker combine for 172,000 sq. ft. in Pennsauken, Colliers says

A mobile accessory distributor has leased more than 110,000 square feet of new industrial space in Pennsauken, in one of two newly announced transactions by Colliers.

Finance & Capital Markets
Progress Capital sources $14 million refi loan for new Journal Square apartments

The owner of a new 79-unit apartment building in Jersey City has refinanced the property for $14 million, according to a debt placement team with Progress Capital.

Office
Opal picks Avison Young as leasing agent at newly acquired Metropark office building

Opal Holdings LLC has tapped Avison Young as its leasing agent at an office building in Woodbridge, marking the firms’ latest collaboration in the Metropark submarket.

Professional Services
PS&S acquires leading transportation, infrastructure firm B. Thayer Associates

PS&S, the Warren-based professional services firm, has acquired the assets of a New York-based consulting practice involved in some of the region’s largest infrastructure projects.

Industrial
Industrial leasing, pricing starts strong in 2022 amid ongoing supply constraints in New Jersey

Rents for warehouse and logistics space continue to climb across much of New Jersey, where landlords saw a first-quarter uptick in leasing activity after a momentary lull in late 2021.

People
Veris Residential taps new CIO, general counsel to succeed departing Cardoso, Wagner

Veris Residential Inc. has named a new chief investment officer and general counsel to succeed two longtime executives at the former Mack-Cali Realty Corp.

Office
Kimmerle touts upgraded amenities, common spaces at Onyx office building in Paramus

Onyx Equities has unveiled a series of upgrades and new amenity spaces at a 350,000-square-foot office building in Paramus, under a newly completed project by Kimmerle Group.

Deals
Newmark inks deals with financial services firms, retail users in downtown Summit

Three retail tenants and two office users have signed leases in downtown Summit, in a series of newly announced transactions by Newmark Associates.