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
Middlesex industrial building trades for $1.7 million, Boniakowski says

An owner-occupier has acquired a nearly 17,000-square-foot industrial building in Middlesex Borough, according a broker with The Boniakowski Commercial Real Estate Group.

Industrial
Rockefeller says growth of in-house design, construction team has boosted project speed

In a time when industrial builders can’t deliver new space fast enough, those with in-house design and construction teams are finding ways to speed up the development process. The Rockefeller Group has honed that strategy in recent years with a series of key hires in the region. In the process, executives say the moves have also provided a leg up in the increasingly competitive and increasingly complex search for new sites.

Residential & Mixed Use
CBRE: Boutique rental property in Ridgewood sells for $14.3 million

A private real estate family has acquired a three-building, 31-unit apartment complex in Ridgewood for more than $14 million, in a transaction arranged by CBRE.

Retail
JLL: Daycare, preschool center leases 14,000 sq. ft. at Hoboken office building

A new daycare and preschool center is coming to the base of a well-known office complex in downtown Hoboken, in a newly announced transaction by JLL.

Finance & Capital Markets
Sponsor inks financing for 4,000 affordable housing units, using $850 million in tax credits

An investment firm has closed financing for $850 million in affordable housing tax credit properties, doing so through a trio of institutional funds.

Office
Mack-Cali selling Jersey City office tower to Birch Group for $380 million

Mack-Cali Realty Corp. has agreed to sell a 42-story, 1.2 million-square-foot office tower in Jersey City to The Birch Group, reportedly for $380 million.

Office
Newmark inks sale of two-building, 140,000 sq. ft. portfolio at repositioned Warren campus

A joint venture has sold a pair of multipurpose commercial buildings in Warren, marking its latest transaction at a renovated and rebranded campus near Interstate 78.

Residential & Mixed Use
Newly built Summit townhomes trade for $625,000 per unit, Kislak says

An investor has acquired 10 newly built townhomes in Summit for nearly $6.3 million, according to a brokerage team with The Kislak Co. Inc.

Industrial
Recycling firm takes 35,000 sq. ft. in Eatontown, Sheldon Gross says

A recycling hauler is taking nearly 35,000 square feet of industrial space in Monmouth County, under a newly announced lease by Sheldon Gross Realty.

Residential & Mixed Use
Leasing underway at 150-unit rental property in Old Bridge

A development team has launched leasing at a new multifamily property in Old Bridge, marking the arrival of 150 upscale apartments at a location just west of Route 9.