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
Rockefeller buys 58-acre redevelopment site near Exit 9, in NAI Fennelly-brokered deal

An affiliate of the Rockefeller Group has acquired the site of a vacant 58-acre manufacturing complex in Spotswood — about a 10-minute drive from the New Jersey Turnpike — in a transaction arranged by brokers with NAI Fennelly.

Residential & Mixed Use
Iron Ore, Deugen complete 11-unit luxury rental project in downtown Maplewood

A construction team has unveiled a 25,000-square-foot project that has brought 11 upscale apartments and new ground-floor retail space to downtown Maplewood.

Professional Services
GHC announces three new shareholders in real estate, land use

Giordano, Halleran & Ciesla has named three new shareholders in its real estate, land use and redevelopment practice, the Red Bank-based firm announced this week.

Residential & Mixed Use
Kislak: Belleville apartment owner sells 23-unit building after 45 years

The developer and longtime owner of a 23-unit apartment building in Belleville has sold the property for more than $3 million, in a deal arranged by The Kislak Co. Inc.

Industrial
Avison Young: Prologis acquires Dayton parking, maintenance site in sale-leaseback

Prologis has acquired a 10-acre parking and maintenance property in South Brunswick that it’s now leasing back to the seller and other tenants, according to brokers with Avison Young.

Retail
JDA expands footprint to Ocean County, acquiring 6,000 sq. ft. bank property

JDA Group LLC has purchased a 6,000-square-foot bank building in Lacey Township, marking the development and investment firm’s entrance to the Ocean County retail market.

Industrial
CBRE: Central Jersey cracks top 10 for large industrial leases, with 4.6 million sq. ft. in 2021

Five of the nation’s 100 largest industrial leases in 2021 occurred in central New Jersey, according to CBRE, accounting for 4.6 million square feet as deal sizes continue to grow.

Professional Services
LAN opens Sussex County office, its fifth overall, for growing surveying team

LAN Associates has continued its recent expansion with the opening of a new office in Vernon, in what will be the dedicated home of its growing surveying department.

Retail
Developer sells Woodland Park retail property for $2.6 million, Marcus says

A developer has sold a fully leased, 12,000-square-foot retail property in Woodland Park, in a newly announced transaction by Marcus & Millichap.

Office
SJP reacquires key Hoboken office building in joint venture, touting rare large-block availability

SJP Properties has regained full control of a three-building, 1.5 million-square-foot office and retail complex in Hoboken that it built over more than a decade, having reacquired the initial phase as part of a joint venture with David Werner Real Estate Investments.