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.

Deals
STRO adds 53,000 sq. ft. commercial building in Paramus

The STRO Cos. has purchased a nearly 53,000-square-foot commercial building in Paramus, in a transaction arranged by Jeffery Realty.

Residential & Mixed Use
BNE’s Station Bay in South Amboy more than 50 percent leased, developer says

Leasing has surged at a new 291-unit apartment complex that opened earlier this year along the Raritan Bay in South Amboy, developer BNE Real Estate Group announced this week.

Office
PTC Therapeutics takes 360,000 sq. ft. at Warren office campus in lease with Rubenstein, Vision

PTC Therapeutics has leased 360,000 square feet for a new corporate headquarters in Warren, in a deal that marks one of New Jersey’s largest office leases of the past decade.

Professional Services
Fauer retires as head of ESA Environmental, with Martell taking over as CEO and owner

The founder and longtime owner of ESA Environmental Consultants has stepped down, having handed the reins to his second-in-command at the Middlesex-based firm.

Industrial
Penwood fund buys 276,000 sq. ft. Bordentown industrial building for $60 million

An investment manager has acquired a nearly 280,000-square-foot industrial building in Bordentown for $60 million, in a newly announced transaction by Cushman & Wakefield.

Residential & Mixed Use
Kushner begins tear-down of East Hanover office building, eyeing 265 luxury apartments

Kushner has started its demolition of another aging suburban office building, this time in East Hanover, paving the way for what will be a new 265-unit luxury apartment complex.

Office
Birch Group details plans for newly rebranded, 828,000 sq. ft. Short Hills office portfolio

The Birch Group is providing a first look at its plans to renovate four well-known office buildings in Short Hills after acquiring the nearly 830,000-square-foot portfolio last year.

Retail
Tenant at Plainfield retail building acquires property, NAI DiLeo-Bram says

NAI DiLeo-Bram & Co. has negotiated the sale of a 12,143-square-foot retail property in Plainfield for $1.7 million, the brokerage firm announced.

Office
Larken, childcare center ink 8,000 sq. ft. lease in Skillman

Larken Associates has negotiated a lease with M&A Square Creative Corner for an 8,000-square-foot space formerly occupied by a Montessori school in Montgomery Township.

Sponsored Content
What’s in store for New Jersey’s commercial real estate market in 2022?

Over the course of the pandemic, commercial real estate has experienced notable highs and lows. The current market has rebounded vigorously and now exceeds pre-pandemic levels. To learn what’s in store in 2022, we sat down with Cushman & Wakefield’s powerhouse New Jersey Capital Markets team. Founded by Andy Merin in 1987, the team has been involved in more than $34 billion in property sales throughout its tenure.