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.

Residential & Mixed Use
Jersey City penthouse sells for $4.4 million, breaking prior record at 79-story tower

A buyer has paid more than $4.4 million for a penthouse in Jersey City, breaking a previous record set at the same newly completed high-rise along the Hudson waterfront.

Industrial
BRC: Shipping firm inks 87,000 sq. ft. expansion in Raritan Center

A trucking and shipping company is expanding its footprint after leasing nearly 90,000 square feet of industrial space in Edison, in a newly completed deal by Bussel Realty Corp.

Residential & Mixed Use
Weiss touts lease-up of 60-unit Somerville apartment building

The developer of a 60-unit apartment building in Somerville has leased up the property, touting its downtown location and the borough’s growing popularity among young renters.

Deals
Tech investor sells 10-acre lot near Princeton for $3.2 million, NAI Fennelly says

A developer has purchased 10 acres along Route 1 in West Windsor, where it now plans to build retail space and an extended stay hotel.

Retail
Azarian Group taps former employee as new director of leasing

A former employee of The Azarian Group has returned to the company as its new director of leasing.

Finance & Capital Markets
G.S. Wilcox sources $44 million loan for Pennsylvania medical office building

The owner of a 70,000-square-foot medical office building in Eastern Pennsylvania has secured $44 million in financing, in a deal arranged by G.S. Wilcox & Co.

Retail
New-look Gateway taking shape in Newark, with commitments from eight new restaurants

Eight new restaurants are coming to Newark’s Gateway Center, marking the latest step in a $40 million overhaul of the four-building office complex and its signature concourse.

Industrial
EverWest buys Somerset industrial building for $28 million, adding to growing portfolio

An investment manager has acquired a nearly 126,000-square-foot industrial building in Somerset County, marking its third such purchase in the region in two months.

Industrial
Stone company leases 24,000 sq. ft. at Meadowlands warehouse, NAI Hanson says

A family-owned stone company is taking more than 24,000 square feet of industrial space in East Rutherford, according to a brokerage team with NAI James E. Hanson.

Office
Larken breaks ground on 19,000 sq. ft. office building in Branchburg

Larken Associates has broken ground on a new boutique office building in Branchburg, in what will mark the expansion of an existing property that the real estate firm purchased in 2017.