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
Stro acquires 120,000 sq. ft. warehouse, its latest in Bergen County

The Stro Cos. has continued its string of acquisitions this year, announcing the addition of a 120,000-square-foot industrial building in Wyckoff.

Office
CBRE inks sale of eight-acre redevelopment site in Morris County

A developer has acquired a vacant former supermarket property in Morris County, where it’s now planning a multiservice medical office center.

Industrial
Diversified hails start of Montville self-storage project

A joint venture has broken ground on a three-story, 98,000-square-foot facility that will bring more than 800 self-storage units to Montville.

Office
Hamilton office complex sells for $85 million, CBRE says

A well-known office complex at the Hamilton train station has changed hands for nearly $85 million, in a newly announced transaction by CBRE.

Industrial
Investor completes sale-leaseback at 100,000 sq. ft. Fairfield property

An investment firm has acquired a 100,000-square-foot industrial building in Fairfield as part of a sale-leaseback agreement with a manufacturer at the property.

Industrial
C&W marketing new-look warehouse space in Parsippany

The owner of a newly upgraded, 550,000-square-foot warehouse in Parsippany has tapped Cushman & Wakefield to market the complex to would-be tenants.

Residential & Mixed Use
JMF, local officials hail opening of Plainfield’s largest-ever residential project

JMF Properties has marked the opening of more than 200 new luxury apartments in Plainfield, joining local officials to hail the latest addition to the city’s housing stock.

Retail
LMC: Nail salon takes 1,700 sq. ft. at North Brunswick retail center

A nail salon has inked a 1,700-square-foot lease at a North Brunswick shopping center, under a recently completed transaction with Levin Management Corp.

Industrial
New construction in 2020, 2021 unlikely to quench demand for New Jersey industrial stock

Users in New Jersey’s booming industrial sector have faced a severe lack of supply in recent years, leading to unprecedented rent growth and an unabated race to find development sites. New space is on the way — and plenty of it — with millions of square feet slated to come online in the next two years. Yet market experts say demand will continue to outpace supply, given the continued upside of e-commerce and a race by traditional retailers to update their supply chains.

Office
Bergman, Rialto sell Florham Park office complex for $31 million

A joint venture has reaped more than $30 million from the sale of a two-building, 230,000-square-foot office complex in Florham Park, brokers with Colliers International said.