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
Construction underway at 1.2 million sq. ft. Crow Holdings industrial park in Carteret

A new three-building, 1.2 million-square-foot logistics park is quickly taking shape in Carteret, helping to revitalize a site that had been plagued by decades of contamination.

Office
SJP, Siemens detail 66,000 sq. ft. lease at new-look Metropark office building

Siemens has joined the tenant roster at a newly updated office building in Woodbridge, where it’s taking more than 65,000 square feet under a recent lease with SJP Properties.

Industrial
C&W: Penwood, Metrix sell 171,000 sq. ft. Hamilton warehouse after redevelopment

A joint venture has sold more than 170,000 square feet of newly built industrial space along Route 130 in Hamilton, brokers with Cushman & Wakefield announced Tuesday.

Residential & Mixed Use
Gebroe-Hammer inks $14.5 million sale of Summit apartments, completing 1031 exchange

A private investor has sold a 53-unit garden apartment complex in Summit for $14.5 million, in a newly announced transaction by Gebroe-Hammer Associates.

Top News
Walker & Dunlop joins Rutgers Center for Real Estate as corporate sponsor

The Rutgers Center for Real Estate has announced Walker & Dunlop as its newest corporate sponsor, bringing additional support, mentorship and training opportunities to students of the nearly decade-old program.

Office
Bergman taps BetterSpaces for wellness, engagement programs at New Jersey office buildings

Bergman Real Estate Group has partnered with a tenant wellness and engagement platform in a move aimed at boosting the appeal of several of its New Jersey office buildings.

Residential & Mixed Use
Irvington apartments sold for first time in 40 years, trading for $4.2 million, Marcus says

The longtime owner of a 33-unit apartment building in Irvington has sold the property for more than $4 million, in a newly announced deal by Marcus & Millichap.

Industrial
Prologis to add 9.6 million square feet in New Jersey with Duke Realty acquisition

Prologis Inc. will add nearly 10 million square feet to its New Jersey portfolio after agreeing to acquire Duke Realty Corp., in an all-stock, $26 billion transaction that spans more than 150 million square feet of combined industrial space in 19 major U.S. markets.

Residential & Mixed Use
New 33-story tower in Newark by Boraie, Shaq on track for spring 2023 delivery

Boraie Development has reached a key milestone in its construction of a 370-unit apartment tower in downtown Newark, with plans to debut the building next spring under its latest partnership with city native and basketball legend Shaquille O’Neal.

Retail
Net-leased gas station site in Hamilton trades for $4 million, Marcus & Millichap says

A private LLC has sold a net-leased service station property in Hamilton for $4.15 million, in a newly announced deal by Marcus & Millichap.