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
Sitar brokers 125,000 sq. ft. lease for build-to-suit industrial project in Tinton Falls

A developer has signed a full-building lease for what will be a 125,000-square-foot warehouse in Monmouth County, under a newly announced deal by Sitar Realty Co.

Industrial
Boniakowski inks sale of 28,000 sq. ft. Piscataway industrial building

An industrial building in Piscataway has changed hands for $4.3 million, according to a brokerage team with The Boniakowski Commercial Real Estate Group.

Residential & Mixed Use
NJIT, developers break ground on 548-bed residence hall in Newark

Construction is set to begin on a new eight-story, 548-bed residence hall at the New Jersey Institute of Technology’s campus in Newark, one that will create much-needed space for the university and repurpose the former site of an elementary school.

Events
United Way honors Gateway team, JLL’s Greiner at annual fundraiser

The state’s commercial real estate sector renewed its support of the United Way of Northern New Jersey, raising more than $250,000 in a program that showcased plans to transform Newark’s flagship office complex, while recognizing a top broker with JLL.

Industrial
Elberon, Avidan sign lease with Carvana at recently acquired Baltimore site

Elberon Development Group and The Avidan Group have secured a tenant at a 4.5-acre property in Baltimore, having recently acquired the site as their first outside New Jersey.

Finance & Capital Markets
C&W: Advance, Greek land $43 million loan for next phase of Logan industrial site

A development team has secured a nearly $43 million construction loan for the second phase of a 3.2 million-square-foot industrial park project in Logan Township.

Office
Colliers inks sale of 55,000 sq. ft. medical office building in Oradell

An investor has acquired more than 55,000 square feet of medical office space in Bergen County, under a transaction arranged by Colliers International.

Industrial
Maritime logistics firm takes 8,600 sq. ft. in Sayreville, BRC says

A logistics user has leased nearly 8,600 square feet of industrial space in Sayreville, in a newly announced transaction by Bussel Realty Corp.

Residential & Mixed Use
New two-building, 126-unit apartment complex in Hackensack on the market for sale

A developer is seeking a buyer for a newly completed, 126-unit luxury apartment complex at the site of a historic bank tower in Hackensack, according to brokers with Walker & Dunlop.

Policy Page
The future of office work has arrived

The economic rebound is fueling job growth in office-using sectors, which comes as the state lifts requirements that employers accommodate telework arrangements. Now that the future has arrived, I am sure that all employers would agree that employees are the most critical resource for success. Striking the right balance for the new workplace will likely be case-sensitive, and will no doubt take some time and a great deal of patience.