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
Family business expands, takes 16,000 sq. ft. in East Rutherford, NAI Hanson says

A provider of packaging, retail and janitorial supplies has leased more than 16,000 square feet of industrial space in East Rutherford, in a newly announced deal by NAI James E. Hanson.

Deals
CBRE inks sale of self-storage development site in Montclair

A new self-storage facility is coming to Montclair after a developer’s purchase of about three-quarters of an acre near the downtown, brokers with CBRE announced Thursday.

Industrial
CBRE: Logistics firm takes 607,000 sq. ft. at new Bridge industrial park in Warren County

A logistics firm has committed to more than 600,000 square feet of industrial space in Phillipsburg, marking the latest tenant at a sprawling new campus along Interstate 78.

Policy Page
CRE sentiment rises, but weighed down by construction cost challenges

Improving economic conditions have led to an improvement in the NAIOP CRE Sentiment Index, indicating both overall optimism and several ongoing concerns. However, respondents are now more pessimistic about construction costs than in any prior survey, and most expect construction labor costs to increase.

Professional Services
DMR celebrates 30th anniversary with launch of charitable foundation

DMR Architects has launched a new foundation to help mark its 30th anniversary, paving the way for community service such as collecting food and lunch items for local students.

Office
Colliers named leasing agent at Woodcliff Lake office building

A landlord has tapped Colliers International as its leasing agent at a 118,000-square-foot office complex in Woodcliff Lake.

Residential & Mixed Use
Loft-style apartments in Newton trade for $22.6 million, Kislak says

An investor has purchased a 101-unit, loft-style apartment building in Newton for nearly $23 million, in a newly announced transaction by The Kislak Co. Inc.

Residential & Mixed Use
Ironstate, Pegasus continue momentum at latest Harrison apartment building

A joint venture has leased more than three-quarters of a new 310-unit luxury apartment development in Harrison, signaling continued interest in the town’s revitalized riverfront.

Top News
Jumani named Tulfra CEO in expanded leadership role with development firm

Tulfra Real Estate President Sonny Jumani is assuming the title of CEO, expanding his leadership role with the Rochelle Park-based development firm.

Industrial
Dermody acquires, eyes upgrades at 72,000 sq. ft. warehouse in Moonachie

Dermody Properties has expanded its northern New Jersey industrial holdings with the acquisition of a roughly 72,000-square-foot building in Moonachie.