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.

Residential & Mixed Use
Developer breaks ground on latest affordable rental project in Ocean County

Walters has started site work for a new 60-unit, income-restricted apartment and townhome community in Ocean County, the developer announced Wednesday.

Residential & Mixed Use
Developer touts 70 percent leased milestone at new Cherry Hill apartments

A developer has leased nearly three-quarters of its recently completed, 152-unit luxury rental community in Cherry Hill.

Government & Public Policy
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building

A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.

Professional Services
Garibaldi adds first-ever managing broker as part of historic rebrand

The Garibaldi Group has hired a veteran broker and consultant who will play a key role in the firm’s efforts to revamp and expand its real estate services platform.

Retail
Russo inks leases with Chipotle, Panera at mixed-use Union project

Two well-known quick service restaurants have signed on to Russo Development’s new mixed-use project in Union, where the first retailers and residents are expected to arrive this summer.

Industrial
C&W named property manager for 1.1 million sq. ft. Newark industrial complex

The new owners of the former P. Ballantine & Sons brewery site in Newark has tapped Cushman & Wakefield to manage the 1.1 million-square-foot complex.

Office
Colliers inks lease, subsequent sale of Camden County medical office building

A medical office building in Camden County has changed hands after inking a lease with an area health system, in a series of transactions completed by Colliers International.

Office
Voorhees medical office building trades for $3.6 million

A contractor has acquired a 20,000-square-foot medical office building in Voorhees for more than $3.6 million, under a newly announced transaction by Rose Commercial Real Estate.

Residential & Mixed Use
iStar unveils $6 million oceanfront condo in Asbury Park

Six penthouses have hit the market at a new high-end condominium building in Asbury Park, including a top-floor, four-bedroom unit with an asking price of nearly $6 million.

Event Coverage
People on streets: Retail, amenities a growing focus as Newark development boom continues

As developers continue to invest in downtown Newark, the city is attracting both new residents and businesses. That makes it all the more important to create amenities and spaces that will bring permanent foot traffic during the day and at night, which has become a growing focus for both public- and private-sector leaders in the state’s largest city.