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: Rents for top New Jersey industrial buildings rise 55 percent in 2021

The cost to lease industrial space in New Jersey skyrocketed in 2021, with average asking rents for high-end buildings jumping by more than 50 percent from the previous year.

Residential & Mixed Use
NRP, Hoboken Brownstone open 131 luxury apartments in Jersey City

A joint venture has completed a new 131-unit luxury apartment building in Jersey City, marking the latest addition to a growing residential neighborhood near the Holland Tunnel.

Government & Public Policy
Murphy, lawmakers expand tax credits for digital media projects

A new law is set to expand New Jersey’s popular film and digital media tax credit program, further bolstering an industry that has attracted some commercial real estate owners.

Retail
Three new dining, retail tenants sign leases at Kushner’s Pier Village

Kushner has announced leases with three new dining and retail tenants at Pier Village, the acclaimed mixed-use, oceanfront destination in Long Branch.

Retail
Marcus inks $3.9 million sale of Freehold retail property

A private investor has sold a nearly 20,000-square-foot retail property in Freehold, in a newly announced transaction by Marcus & Millichap.

Industrial
Realterm buys 35,000 sq. ft. truck terminal in South Plainfield

An investment manager has purchased a nearly 35,000-square-foot truck terminal in Middlesex County, marking the latest addition to its industrial portfolio in the region.

People
Larken welcomes new human resource director

Larken Associates has named a new human resource director to help guide its Branchburg-based team of 150 employees.

Sponsored Content
Real Estate NJ’s 2022 Market Forecast

Every year has its ups and downs. Every market has highs and lows. Both were true when it came to New Jersey’s commercial real estate sector in 2021, a year that marked ongoing dominance for some asset classes, as COVID-19 continued to loom over others. Whether those trends endure in 2022 remains to be seen, but we’ve recruited some of the industry’s most prominent developers, service providers and insiders to help set the stage. You can find their predictions, insights and more in our special 2022 Market Forecast.

Residential & Mixed Use
Investor buys nearly complete, 40-unit rental building in Jersey City for $16 million

An investment group has expanded its holdings in Jersey City with the acquisition of a new boutique apartment building that is in the final stages of construction.

Professional Services
Greenbaum Rowe taps Mlenak as redevelopment, land use co-chair

Greenbaum Rowe Smith & Davis LLP has named a new co-chair of its redevelopment and land use department.