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
CBRE: Silverman, FDA-approved packaging company ink 114,000 sq. ft. renewal in Randolph

The Silverman Group has signed a nearly 114,000-square-foot lease renewal in Randolph with a specialty packaging company for the health care and food and nutrition industries.

Residential & Mixed Use
Harrison property with six rentals, retail space trades for $1.1 million, Cervelli says

An investor has purchased a six-unit apartment building with retail space in Harrison for $1.11 million, according to a team with Cervelli Real Estate & Property Management.

Professional Services
Katz & Associates adds Zimmerman as senior vice president for investment sales

Longtime broker Michael Zimmerman has joined Katz & Associates to expand the Englewood Cliffs-based firm’s investment sales business.

Industrial
Freight forwarding, logistics firm takes 89,000 sq. ft. in Raritan Center, Lee & Associates says

Summit Associates Inc. has landed a tenant for a nearly 89,000-square-foot industrial building in Edison, brokers with Lee & Associates – WBE New Jersey announced Thursday.

Office
JLL: Buyer wanted for newly updated 134,000 sq. ft. office building in Piscataway

The owner of a nearly 134,000-square-foot office building in Piscataway is looking to sell the property after a multiyear, $3.2 million renovation that helped bring it to 95 percent occupancy.

Industrial
CHS Property fills Linden industrial park with new 50,000 sq. ft. lease, BRC says

A seven-building, 208,000-square-foot industrial complex in Linden is fully leased after a recent 50,000-square-foot deal, according to a brokerage team with Bussel Realty Corp.

Events
NAIOP N.J. President’s Awards slated for Nov. 3 with Casiello, Lieb set to join Hall of Fame

More than a half-dozen commercial real estate industry leaders will take the stage next month as NAIOP New Jersey hosts its annual President’s Awards and Hall of Fame Reception.

People
Saxum promotes Stern to senior associate of acquisitions with industrial team

Saxum Real Estate has promoted Brandon Stern to senior associate of acquisitions, expanding his focus with the Summit-based firm’s industrial platform.

Government & Public Policy
Housing, industrial developments loom large in NJ Transit plan to monetize 8,000-acre real estate portfolio

NJ Transit has unveiled a plan to redevelop or better leverage its 8,000-acre real estate portfolio, touting the potential to create up to $1.9 billion in new revenue in the coming decades.

Residential & Mixed Use
JLL: Toll Brothers, partners sell 417-unit Jersey City rental tower to Rockpoint

A joint venture led by Toll Brothers has sold a 417-unit high-end apartment tower in Jersey City, in a deal that brokers touted as New Jersey’s largest multifamily transaction this year.