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
Veris Residential eyes debut of new 750-unit, ecofriendly apartment tower in Jersey City

Veris Residential Inc. has unveiled a new 56-story, 750-unit apartment tower in Jersey City with what it says is a focus on water efficiency, green energy and other sustainability features.

Professional Services
Deugen welcomes new team members in construction, development roles

Deugen Development has announced four new hires to bolster its development and construction teams.

Professional Services
Day Pitney adds Terhune as partner, vice chair of environmental team

Day Pitney LLP has added a well-known attorney as a partner in its New Jersey office and vice chair of its environmental group.

Office
Lee & Associates N.J. named leasing agent for 122,000 sq. ft. Morristown office complex

The Silverman Group has tapped Lee & Associates New Jersey to market space at a two-building, 122,000-square-foot office complex in Morristown.

Industrial
Petrucci, PGIM sell 511,000 sq. ft. Phillipsburg warehouse for $110 million

A joint venture has sold a newly built, 511,200-square-foot industrial building in Phillipsburg for $110 million, allowing a Boston-based firm to expand its footprint in the state.

Professional Services
Mancini Duffy expands regional footprint with new Red Bank office

Design firm Mancini Duffy is marking the opening of a new regional office in Red Bank, its second in New Jersey and its third overall.

Government & Public Policy
EDA issues call for information to help launch fund for minority, women-owned developers

The state’s Economic Development Authority is seeking input from minority- and women-owned development firms, as it lays the groundwork for a $20 million funding program to help improve diversity in the real estate industry.

Industrial
Terreno buys 10-acre industrial parcel in Newark for $17.3 million

Terreno Realty Corp. has purchased a nearly 10-acre industrial property in Newark for $17.3 million, the Bellevue, Washington-based firm announced last week.

Retail
Two-way traffic creating “more connected” downtown in Hackensack, experts say

Business leaders in downtown Hackensack are marking one year since the return of two-way traffic on Main Street, touting an uptick in activity from residents and visitors alike.

Sponsored Content
Current trends in the post-COVID commercial leasing market: The reduced footprint and new considerations of the office

Everyone knows the most critical factor in the determination of cost of rentable square footage of leased space and the value of land is “location, location, location.” COVID has not changed this truism, but perhaps has rarified the implications.