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
DCA marks payout of $232 million in COVID rent relief, launches eviction prevention program

The state has disbursed more than $230 million in federal funds aimed at providing relief to apartment renters and landlords impacted by the COVID-19 crisis, officials said last week.

Industrial
Investor acquires 23,000 sq. ft. fleet maintenance site in North Bergen

An investment manager has acquired the site of a 23,000-square-foot fleet maintenance facility in North Bergen, expanding its holdings in northern New Jersey.

Retail
Goodwill leases 20,000 sq. ft. in Hamilton amid growing demand, Vantage Commercial says

A new Goodwill Industries store is coming to a highly trafficked shopping center in Hamilton, under a lease arranged by Vantage Commercial.

Sponsored Content
No slowing down: Growth of e-commerce, last mile delivery and the densest state in America

The New Jersey industrial market has continued on its historic pace with vacancy rates dropping below 3 percent across the state. This has been driven by the unprecedented demand from online retailers and e-commerce-driven businesses desperate for warehousing and “last mile” distribution. E-commerce had already been on a rapid ascent for years with its share of the total retail market more than quadrupling since 2010. With the pandemic shuttering most brick-and-mortar locations for the better portion of 2020, e-commerce had taken on another level of growth. According to the U.S. Department of Commerce, sales increased 31.73 percent year over year, the fastest growth rate in 10 years, nearly doubling the second-highest growth rate of 17.81 percent in 2011.

Industrial
NAI Hanson: Trucking firm, bath fixture business lease 42,000 sq. ft. in Secaucus

Two tenants have leased a combined 42,000 square at a Secaucus industrial building, in a set of newly announced transactions by NAI James E. Hanson.

Industrial
Brooklyn-based restaurant supplier buys 71,000 sq. ft. Pennsauken warehouse

A restaurant supplier is expanding its footprint with its purchase of more than 71,000 square feet of industrial space in Pennsauken, according to brokers with Colliers International.

Residential & Mixed Use
Harbor Group, Cammeby’s acquire 5,300 apartments in New Jersey for $1 billion

An investment group has acquired more than 5,300 apartments in the state for a combined $1.05 billion, in a transaction that spans 14 cities in northern, central and southern New Jersey.

Office
Princeton office park home to Merrill Lynch, Bristol-Myers on the market for sale

A fully leased, two-building office complex in West Windsor is on the market for sale, boasting a list of high-profile tenants and a location three miles from downtown Princeton.

Industrial
Solar Landscape, Duke unveil rooftop system powering 375 homes in North Jersey

An industrial owner and a developer of solar panel systems have teamed up on another project in New Jersey, unveiling a new installation atop a Wood-Ridge distribution center.

Retail
Southern-style barbecue concept picks Bell Works for second location

Another restaurant is expanding into Bell Works, joining a growing roster of eateries and retailers at the 2 million-square-foot mixed-use complex in Holmdel.