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.

Government & Public Policy
Scotch Plains seeking developer, forging ahead with long-awaited downtown revival

Scotch Plains is seeking a developer after recently adopting a long-awaited redevelopment plan for its downtown, aiming to create a vibrant hub with a mix of retail, restaurants, housing, a consolidated library and town hall, public plazas and parking.

Industrial
STRO, Millstein family office acquire 90,000 sq. ft. industrial asset in Passaic

The Millstein family office and The STRO Cos. have completed their purchase of a 90,000-square-foot industrial property in Passaic.

Office
Lee & Associates New Jersey inks sale of boutique office sites in Morristown, Chatham

The site of a planned boutique office building in downtown Morristown has changed hands for $1.7 million, in one of several newly announced transactions by Lee & Associates New Jersey.

Industrial
Dumpster, garbage service provider buys Ridgefield Park parcel, NAI Hanson says

NAI James E. Hanson has negotiated the sale of a 3.5-parcel in Ridgefield Park.

Retail
Ripco named leasing agent for 48,000 sq. ft. retail space in Paramus

Olshan Properties, the owner of a prominent retail property in Paramus, has tapped Ripco Real Estate to market 48,000 square feet at the site.

Retail
East Brunswick strip mall sells for $4 million, Marcus says

A personal trust has sold a nearly 17,000-square-foot strip mall along East Brunswick’s busy Route 18 corridor, according to a brokerage team with Marcus & Millichap.

Industrial
Resource Realty: Biotech firm takes 76,000 sq. ft. at new East Hanover industrial building

The developer of a new industrial facility in East Hanover has signed a full-building lease for nearly 76,000 square feet, according to Resource Realty of Northern New Jersey.

Industrial
Russo, PGIM eye 200,000 sq. ft. industrial building after buying Mahwah office property

A joint venture has closed on the site of a Mahwah office building that it now plans to redevelop as 200,000 square feet of modern industrial space, brokers with CBRE said Monday.

Finance & Capital Markets
Lenders Capital inks $26 million construction loan for 103-unit Reynolds project in Orange

The developer of a 103-unit luxury apartment building in Orange has landed more than $26 million in construction financing, in a deal arranged by Lenders Capital Realty Services.

Deals
Shelbourne, Avison Young tout 173,000 sq. ft. in deals in Piscataway, Bloomfield

A biotechnology firm has leased nearly 57,000 square feet in Piscataway, in one of three newly announced deals by Avison Young on behalf of Shelbourne Global.