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.

Office
South Korean airline taking 2,500 sq. ft. at Sanzari-owned campus in Teaneck

Alfred Sanzari Enterprises has attracted a new tenant to its Glenpointe campus in Teaneck, securing a lease for more than 2,500 square feet with a South Korean airline.

Residential & Mixed Use
Developer, local officials mark start of 337-unit rental project in Jersey City

A developer has broken ground on a new 337-unit luxury apartment building in Jersey City, marking the latest investment in the city’s fast-growing West Side neighborhood.

Office
Report: Amazon, Mack-Cali nearing 400,000 sq. ft. office lease in Jersey City

Amazon and Mack-Cali Realty Corp. are reportedly close to inking a 400,000-square-foot office lease in Jersey City, in a potential blockbuster deal for the real estate investment trust and its flagship Harborside complex along the Hudson waterfront.

Policy Page
Third-party inspectors would solve shrinkage of public employees

As of this writing, legislation to facilitate the timely review and inspection of construction activities, which have been on the rebound now that the worst of the pandemic is behind us, is awaiting Gov. Phil Murphy’s signature. We need the third-party option because the number of public-sector inspectors has substantially diminished over the last 10 years and will continue to do so.

Professional Services
Environmental attorney joins Scarinci Hollenbeck

Scarinci Hollenbeck has bolstered its New Jersey environmental practice with the addition of a veteran attorney in the field.

Government & Public Policy
Jersey City, MBC unveil 1.5-acre park in growing residential neighborhood

A new public park has opened in Jersey City, serving as a focal point for thousands of apartments that have helped revive a depressed industrial area near the Holland Tunnel.

Industrial
CenterPoint adds 50,000 sq. ft. cold storage facility in Jersey City

CenterPoint Properties has acquired a nearly 50,000-square-foot cold storage facility in Jersey City, marking the latest addition to its northern New Jersey industrial holdings.

Residential & Mixed Use
CBRE: AvalonBay eyes 301-unit multifamily project in Princeton after deal with KABR

100 and 101 Thanet Circle in Princeton — Courtesy: CBRE By Joshua Burd A developer has acquired a two-building, 110,000-square-foot office complex in Princeton with plans to repurpose the site into more than 300 apartments, brokers with CBRE announced. The…

Featured
JLL inks $9 million loan for light industrial buildings in Maple Shade, Cherry Hill

An investor has secured a nearly $9 million acquisition loan for a three-building light industrial portfolio in Burlington and Camden counties, according to brokers with JLL.

Office
Opal, Avison Young detail start of upgrades at 425,000 sq. ft. Metropark office building

A landlord has kicked off a renovation of a well-known office building in Woodbridge, having tapped Avison Young to spearhead the multimillion-dollar project.