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
Connell launches leasing at 179-unit rental tower in Berkeley Heights, eyeing summer move-ins for first residential phase at The Park

Leasing is underway at the first luxury apartment building at The Park in Berkeley Heights, marking another milestone as The Connell Co. reshapes the 185-acre campus.

People
PREMIER Design + Build Group’s Trautmann named general superintendent for Northeast

PREMIER Design + Build Group has promoted Artie Trautmann to general superintendent, touting it as a move that deepens its field leadership and accelerates its growth across the Northeast industrial market.

Industrial
Neptune flex property trades in $1.3 million deal by Sheldon Gross Realty

A private entity has reaped $1.3 million from the sale of more than 6,000 square feet of commercial space in Neptune Township, brokers with Sheldon Gross Realty said Monday.

Government & Public Policy
Sherrill taps Hertz-Shargel, leading grid modernization consultant, as next BPU president

Gov. Mikie Sherrill has picked Ben Hertz-Shargel to lead the New Jersey Board of Public Utilities, a move that comes as the state looks to rein in rising energy costs and amid a growing focus on how new data centers and other development will impact the grid.

Office
JLL: Fort Lee office property listed for sale with potential for new long-term lease or fully vacant delivery

The owner and occupier of a highly visible office property just west of the George Washington Bridge has put it up for sale, under a recent listing by JLL’s New Jersey capital markets team.

Office
NAIDB inks sale of Metuchen bank property, Flemington office condo

A private investor has acquired a former Wells Fargo bank property in Metuchen, in one of two deals announced last week by NAI DiLeo-Bram & Co.

Industrial
Woodmont, Butters Group lease 129,000 sq. ft. in South Florida to Alaris Aerospace Systems

Woodmont Industrial Partners has filled more than half of a newly built facility in South Florida with a seven-year, 129,000-square-foot lease with an aircraft parts distributor and asset manager.

Retail
Aldrich buys 5,000 sq. ft. former bank building in Chatham for $2.1 million, C&W says

The site of a vacant former bank building in downtown Chatham has changed hands for nearly $2.1 million, according to a listing team with Cushman & Wakefield.

Residential & Mixed Use
P3, Greyhill acquire 301-unit Port Imperial property from PGIM for $125 million

A joint venture has claimed a piece of the iconic Port Imperial district, buying a 301-unit luxury rental property in West New York in a deal reportedly valued at more than $125 million.

Industrial
Small-bay demand on display in new sale, lease deals in Boonton and Rockaway, RRNNJ says

Demand for smaller industrial spaces continues in Morris County, fueling the recent sale of a 12,000-square-foot building and two leases across neighboring municipalities.