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
I.CON panel: For spec builders in top logistics markets, it pays to wait to sign a lease

In today’s booming industrial market — with rents rising by the month and supply at unprecedented lows — developers are now grappling with a seemingly unprecedented question: How soon is too soon to sign a lease at a building that’s still under construction? According to some leading owners, it pays to wait.

Office
American Equity Partners inks sale of 199,000 sq. ft. Bridgewater office building, CBRE says

CBRE advised American Equity Partners on the sale of a 199,310-square-foot, 82 percent occupied office building in Bridgewater.

Residential & Mixed Use
Developer, housing authority open 60-unit affordable, supportive project in Elizabeth

A public-private partnership has unveiled a new 60-unit, mixed-income housing development in Elizabeth, providing new units for formerly homeless individuals and other city residents.

Residential & Mixed Use
KRE launches leasing, eyes December move-ins at 38-story rental tower in Jersey City

Kushner Real Estate Group has all but completed a new 38-story apartment tower in downtown Jersey City, adding another 507 units to its fast-growing portfolio in Hudson County.

Residential & Mixed Use
Fort Lee’s Horizon House taps architect Steven Kratchman for master-plan, renovations

The board of Horizon House, a large multifamily complex in Fort Lee, has appointed Steven Kratchman Architect PC of New York to create a long-range master plan that will be the first phase of a longer-term strategy to reinvigorate the residential property.

Office
Investment team buys Newark office buildings, parking garage for $80 million

An investment group has acquired two office buildings and a parking garage in downtown Newark for $80 million, with plans to spend another $70 million to reposition the properties.

Industrial
Lincoln Equities Group sells Bayonne property set to become 886,000 sq. ft. UPS package hub

Lincoln Equities Group has sold a massive development tract in Bayonne that will soon be home to a nearly 900,000-square-foot regional hub and distribution center for UPS.

Office
Birch Group adds ex-JLL, Mack-Cali leasing exec

The Birch Group has made another addition to its team, hiring a former broker and Mack-Cali Realty Corp. executive as it continues to grow its high-end office holdings in New Jersey.

Government & Public Policy
EDA approves rules, set to accept applications for new Aspire gap financing program

State officials are set to begin taking applications under a new incentive program that will look to provide gap financing to commercial and residential projects across New Jersey.

Health Care & Education
NAI Hanson inks sale of Riverdale medical office building to veterinarian

The owner of a veterinary practice has acquired a 6,200-square-foot medical office building in Riverdale, under a newly announced deal by NAI James E. Hanson.