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
First phase of new Bogota apartments now 90 percent leased, PCD says

A developer has nearly completed its lease-up of more than 270 apartments at a newly built property along the Hackensack River in Bogota.

Industrial
CBRE: Investment firm buys 144,000 sq. ft. Somerset industrial building

An investment manager has purchased a nearly 144,000-square-foot industrial building in the Somerset section of Franklin, in a deal arranged by brokers with CBRE.

People
Sanzari taps Fuller as new chief operating officer

Alfred Sanzari Enterprises has named a new chief operating officer after promoting a longtime industry executive who joined its ranks in 2019.

Professional Services
Connell Foley names co-chair of construction group

Connell Foley LLP has tapped a veteran attorney as the new co-chair of its construction practice.

Office
NAI Hanson: Chatham office complex fully leased after deal with cheese importer

A cheese wholesaler and importer has leased 1,100 square feet of office space in Chatham, in a newly announced transaction by NAI James E. Hanson.

Residential & Mixed Use
Marcus inks sale of 30-unit apartment complex outside Albany

A private investor has sold a 30-unit apartment complex in Upstate New York for nearly $3.6 million, in a deal arranged by Marcus & Millichap’s New Jersey office.

Office
It’s official: Party City, local leaders announce company’s move to Woodcliff Lake

Party City will in fact move its corporate headquarters to Woodcliff Lake, where it will lease more than 200,000 square feet to backfill a soon-to-be-vacant office building.

Government & Public Policy
Newark boosts potential for state funding, assistance with new ‘Transit Village’ designation

The city of Newark has become a state-designated Transit Village, making it eligible for additional funding and guidance from Trenton as part of its ongoing development efforts.

Residential & Mixed Use
Monmouth shopping center trades for $6.8 million, Marcus says

A private entity has sold a nearly 34,000-square-foot highway shopping center in Monmouth County, under a newly completed transaction by Marcus & Millichap.

Residential & Mixed Use
New 65-unit senior housing property coming to ex-hospital site in Vineland

A developer has broken ground on a two-building, 65-unit senior housing complex in Vineland, helping to repurpose the former site of a hospital that closed in 2004.