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.

L’Oréal details plan for new $140 million research, innovation center in Clark

L’Oréal USA has unveiled plans for a new $140 million research and innovation center in Clark, where it’s replacing facilities that it has occupied in the area for more than six decades.

Industrial

Prologis, Dotcom Distribution ink 400,000 sq. ft. extension in Edison, Avison Young says

Prologis Inc. and Dotcom Distribution, an e-commerce fulfillment provider, have signed a lease extension for more than 400,000 square feet of industrial space in Edison.

Office

Two-story, 49,000 sq. ft. Manalapan office building trades for $4.3 million

The longtime owner of a 49,000-square-foot office building in Monmouth County has sold the property for $4.3 million, in a deal arranged by NAI DiLeo-Bram & Co.

Professional Services

NAI Hanson promotes two to associate vice president

NAI James E. Hanson has promoted brokers Lorenzo Lambiase and Cameron Silverstein to the role of associate vice president, the Teterboro-based firm announced Monday.

Retail

National food lab takes 9,000 sq. ft. in Bound Brook, BCREG says

A national food testing company is expanding in the region with a nearly 9,000-square-foot lease in Bound Brook, according to The Boniakowski Commercial Real Estate Group.

Industrial

Developer eyes 1.2 million sq. ft. industrial project in Northeast Pennsylvania, JLL says

A national investor has acquired an 85-acre development site in Pennsylvania, about 20 miles outside New Jersey, with plans to build 1.2 million square feet of modern industrial space.

Construction set to begin on 155,000 sq. ft. Brookfield industrial building in Fair Lawn

Brookfield Properties is bringing more than 150,000 square feet of new industrial space to the Bergen County borough of Fair Lawn, with construction set to begin in the months ahead.

Government & Public Policy

Murphy touts $49 million upgrade of New Brunswick train station, as development booms

The New Brunswick train station is a getting a nearly $50 million upgrade, thanks to an infusion of state funds detailed Friday by Gov. Phil Murphy and other officials.

Finance & Capital Markets

IDB Bank names new senior vice president for tristate real estate lending platform

IDB Bank has announced a new senior vice president and head of New York commercial real estate lending for the company’s tristate area platform.

Professional Services

Environmental consultant JM Sorge joins Ohio-based professional services firm

Professional services firm Verdantas has acquired JM Sorge Inc., the Somerville-based environmental consulting group founded in 1986.