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.

Retail
Developers kick off Morris Twp. project with 140,000 sq. ft. retail center, community space

A joint venture has started construction on a new retail center and community space in Morris Township, part of a plan to redevelop a 64-acre former Colgate-Palmolive campus.

Office
JLL: Makeup brand, financial adviser ink leases at new Montvale office building

A new boutique office building in Montvale has attracted two more tenants, marking the latest additions to a mixed-use development by The S. Hekemian Group.

People
Prism names vice president of construction amid growing pipeline

Prism Capital Partners has added a vice president of construction to support its growing pipeline of ground-up projects.

Office
Rutgers buys 3,700 sq. ft. office building in downtown Newark, NAI Hanson says

Rutgers University has acquired a 3,700-square-foot office building in downtown Newark, under a newly announced transaction by NAI James E. Hanson.

Residential & Mixed Use
Developers break ground on housing, nonprofit space at Paterson mill property

A joint venture has broken ground in Paterson on a $26 million project that will bring affordable housing and space for a local nonprofit to the site of a historic mill building.

Government & Public Policy
Insiders see growing (but measured) demand for new, more targeted state incentive program

With the recent approval of the first awards under Emerge, the state’s new jobs-based tax incentive program, officials and other insiders expect to see a measured pace of applications for a subsidy that was designed to be more discerning and targeted than its predecessor.

Residential & Mixed Use
KRE marks expansion of Bayonne project with launch of 213-unit rental property

Kushner Real Estate Group is set to unveil more than 200 new upscale apartments in Bayonne, marking the second leg of a three-phase project in the city’s waterfront redevelopment area.

People
Casiello joins ACDevco board of directors

A local resident and well-known commercial real estate professional has joined the board of ACDevco, the nonprofit developer focused on key projects in Atlantic City.

Government & Public Policy
Developer plans 75 apartments, entertainment space at historic Fort Monmouth complex

A developer has purchased 20 acres at Fort Monmouth, with plans to convert a series of historic buildings to create 75 apartments and new commercial and entertainment space.

Health Care & Education
C&W inks $3.6 million sale of Englewood medical office building

A private investor has acquired a nearly 16,000-square-foot medical office building in Englewood, under a newly announced deal by Cushman & Wakefield.