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.

Finance & Capital Markets
CBRE: Investor snags $36 million permanent loan after buying new Belleville rental property

The new owner of a 158-unit luxury apartment building in Belleville has closed on $35.5 million in permanent financing for the asset, brokers with CBRE announced Monday.

Office
Cybersecurity firm takes 12,000 sq. ft. at SJP’s Waterfront Corporate Center in Hoboken

A cybersecurity firm is coming to SJP Properties’ Waterfront Corporate Center in Hoboken, having leased more than 12,000 square feet in a deal arranged by Cushman & Wakefield.

Residential & Mixed Use
Kislak: Renovated 10-unit rental property in Asbury Park fetches $2.3 million

A private investor has purchased a 10-unit apartment building in Asbury Park for $2.3 million, brokers with The Kislak Co. Inc. announced Monday.

Industrial
Eden Wood, event rentals company ink 32,000 sq. ft. industrial lease in Jersey City, BRC says

An event rental company has taken nearly 32,000 square feet at a Jersey City industrial building, in a newly announced deal by Bussel Realty Corp.

Cover Story
Culture campus: Newark Museum update marks latest milestone as $100 million mixed-use project takes shape around it

New Jersey’s oldest museum has undergone a significant upgrade, solidifying its commitment to serve as a dynamic cultural hub for the region and beyond. It also is considered the cornerstone of the $100 million, blended-use project that’s poised to link two downtown neighborhoods.

Editor’s Note
Building momentum

The Museum Parc project is now taking shape around The Newark Museum of Art, as you’ll read in this month’s cover story, as a development team constructs two new buildings with a combined 250 mixed-income apartments, ground-floor retail and additional cultural spaces such as a vibrant, glass-enclosed gallery. The construction along Central Avenue is now about 50 percent complete, as anticipation builds for full delivery in early 2027.

Top News
Joe Morris, big-box developer and giant of New Jersey commercial real estate, dies at age 81

Joe Morris, the co-founder of the Morris Cos. who was known for his commanding presence and leadership in New Jersey’s commercial real estate sector, died last week. He was 81.

Office
JLL tapped to sell 230,000 sq. ft. Bedminster campus fully leased to AT&T

The two-building, 230,000-square-foot office campus in Bedminster that serves as a key corporate hub for AT&T is on the market for sale, according to brokers with JLL.

Industrial
Velocity-owned small-bay industrial park in Marlton now fully leased, NAI Mertz says

Velocity Venture Partners has leased up a 160,000-square-foot industrial park in Burlington County in tandem with an NAI Mertz brokerage team, the firms announced last week.

Retail
Dim sum, dumplings eatery takes 3,700 sq. ft. at Taurasi Group’s Southend Hoboken project

Nana’s Dim Sum & Dumplings is slated to open next summer at Southend Hoboken at 38 Jackson St. in Hoboken. — Courtesy: Nana’s (via The Taurasi Group) By Joshua Burd A fast-growing dim sum concept is entering New Jersey with…