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.

Government & Public Policy
NJ Transit seeks to ramp up role of real estate, development office, DOT chief says

State officials are seeking to “provide a stronger response” to developers looking to build around NJ Transit’s rail and bus stations, hoping to jumpstart a plan to monetize the agency’s vast but underutilized real estate portfolio.

Office
Birch Group bolsters team with veteran property management, construction exec

The Birch Group has named a new vice president of property management and construction, in the latest addition to the team behind its growing office portfolio in the region.

Government & Public Policy
Scotch Plains issues RFQ for long-awaited, mixed-use downtown redevelopment

Scotch Plains has kicked off its search for a developer that can bring new commercial, residential and civic spaces to its downtown, under a long-discussed plan by the municipality.

Industrial
Parking lot tech startup grows footprint with two-acre lease near Trenton, NAI Fennelly says

A technology-based parking lot operator has leased two acres of industrial land in Mercer County, under a newly announced deal by NAI Fennelly.

Residential & Mixed Use
Harrison officials, developers unveil 381 new apartments at Urby complex

Local officials turned out last week to mark the opening of 381 new luxury apartments in Harrison, the latest addition to a sprawling rental community in the town.

Office
Avison Young unveils new-look 31,000 sq. ft. office space at Terreno property in Elizabeth

Avison Young has completed a renovation of more than 31,000 square feet of office space in Elizabeth, where it worked on behalf of Terreno Realty Corp.

Industrial
Sitex acquires fully leased, 210,000 sq. ft. warehouse in North Bergen

Sitex Group has purchased a 210,000-square-foot industrial building in North Bergen, in a newly completed deal with an undisclosed seller.

Residential & Mixed Use
Developers land $42 million for affordable housing near Newark’s University Hospital

A development team has closed on $42 million in financing for a project that will bring 78 affordably priced apartments to an area just north of Newark’s University Hospital.

Office
Newmark named leasing agent at 395,000 sq. ft. Bloomfield office park

The owner of a well-known office park in Bloomfield has hired Newmark as its leasing team for the four-building, 395,000-square-foot property.

Finance & Capital Markets
JLL sources $22 million acquisition loan for South Jersey, Pennsylvania light industrial deal

The new owner of more than 250,000 square feet of light industrial space in South Jersey and suburban Philadelphia has landed some $22 million in acquisition financing.