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
Hartz, grocery distributor ink 16,000 sq. ft. lease in North Bergen, KenKap says

A grocery distributor has taken more than 16,000 square feet of industrial space in North Bergen, under a deal arranged by KenKap Realty Corp.

Retail
Jamaican eatery signs lease at Haddon Heights shopping center

A Jamaican restaurant is joining the tenant roster at a Camden County shopping center, brokers with Vantage Commercial announced Friday.

Industrial
JLL New Jersey team closes $50 million industrial sale on Long Island

A joint venture has sold a nearly 240,000-square-foot distribution center on Long Island for $50 million, in a transaction by JLL’s New Jersey-based capital markets team.

Sponsored Content
What you need to know today: the like-kind exchange strategy

A 1031 exchange (like-kind exchange) is one of the most significant tax advantages available to a real estate investor selling a property with large realized gains.  By implementing this tax strategy, it is possible to defer tax payments on the sale of an investment property indefinitely. While like-kind exchanges are common, there are still many complexities to navigate.  Given some of the proposed legislative changes put forth by the Biden administration and members of Congress, it may make sense to accelerate transactions into the 2021 tax year.

Residential & Mixed Use
Developer acquires Teaneck apartment, hotel parcel for $10 million, Marcus says

A development site that could house a new apartment complex or hotel has changed hands in Teaneck, in a newly announced transaction by Marcus & Millichap.

Industrial
Joint venture buys fully leased, 66,000 sq. ft. Jersey City warehouse for $21.7 million

A joint venture has acquired a nearly 66,000-square-foot warehouse in Jersey City for $21.7 million, expanding its portfolio in a key northern New Jersey submarket.

Professional Services
Avison Young bolsters New Jersey project, construction management groups

Avison Young has announced two new hires on its New Jersey project and construction management teams.

Retail
March Construction breaks ground on Toms River retail center, with Brunelli as leasing agent

March Construction has broken ground on a new 12,600-square-foot retail center at 1882 Hooper Ave. in Toms River — Courtesy: March Construction/R.J. Brunelli & Co. LLC

Government & Public Policy
Developer secures final approval for 500,000 sq. ft. mixed-use project in Hoboken, Jersey City

Local officials have cleared the way for a developer to break ground on what will be 500,000 square feet of new commercial and residential space at the border of Hoboken and Jersey City.

Residential & Mixed Use
Kislak: Linden apartments trade for $21 million, marking first sale in 75 years

The developer of a 120-unit apartment complex in Linden has sold the property after nearly 75 years, in a newly announced transaction by The Kislak Co. Inc.