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
Markeim Chalmers inks $637,500 multifamily sale in Camden County

An investor has acquired a three-building, 10-unit apartment portfolio in Camden County for $637,500, following a deal arranged by Markeim Chalmers Inc.

Editor’s Note
Hoping for growth

New Jersey has only scratched the surface in the co-working and shared office space sector, despite the fact that it is experiencing rapid growth in New York City and other major markets. Fortunately, we’re hearing that the Garden State is poised to grow its share. The industry’s biggest name, WeWork, has ramped up its search for space in New Jersey over the past year, which means its competitors may not be far behind. The requirements have the potential to further strengthen top submarkets such as the Hudson waterfront, while providing a needed boost in areas where vacancy remains high.

Residential & Mixed Use
Onyx launches residential division, details Ridgewood projects

With two new luxury apartment buildings under construction in Ridgewood, Onyx Equities LLC has unveiled the launch of its new residential division.

Industrial
Logistics firm takes 19,000 sq. ft. at new-look building in Teterboro

A supply chain solutions firm has leased nearly 20,000 square feet in Teterboro, under a newly announced transaction by NAI James E. Hanson.

Residential & Mixed Use
NBPAC project unveils newly named theaters, largest-ever gifts for playhouse

The New Brunswick Performing Arts Center, a $172 million mixed-use project rising in the city’s downtown, has added to its cachet with two newly announced naming gifts.

Events
USGBC NJ unveils LEED projects of the year, honorees for spring gala

A new corporate campus in Bergen County and two upscale, environmentally conscious condominium projects will be among the top honorees this year at an annual gala hosted by the U.S. Green Building Council’s New Jersey chapter.

Professional Services
Dresdner Robin touts design, construction services at Jersey City rental project

Consulting firm Dresdner Robin has completed a series of design and development services for a newly delivered, 163-unit luxury apartment project on Jersey City’s west side.

Retail
Developers complete 150,000 sq. ft. anchor store at Bayonne project

A joint venture has taken the wraps off a new 150,000-square-foot Costco Wholesale store in Bayonne, the anchor tenant for a mixed-use development near the city’s waterfront.

People
Petrucci announces promotion, names director of property management

By Joshua Burd J.G. Petrucci Co. Inc. has announced a promotion within its property management team. The Asbury-based developer said Wednesday that it elevated Joni Elekes to director of property management. In the new position, she will continue to be…

Government & Public Policy
Murphy renews call for state-supported venture capital fund

Gov. Phil Murphy hit the road on Wednesday to highlight a plan to draw more venture capital to New Jersey, a key piece of his proposal to replace the state’s expiring business incentives.