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
Construction underway at two-building, 574,000 sq. ft. industrial project in East Windsor

A contractor is touting the start of a project that will bring more than 570,000 square feet of new industrial space to the Exit 8 submarket along the New Jersey Turnpike.

Professional Spotlight
Avison Young hires former Mack-Cali leasing executive

A longtime Mack-Cali Realty Corp. leasing executive has joined Avison Young’s New Jersey team.

Top News
Somerset Development inks first office, retail leases at Bell Works Chicagoland project

Somerset Development has taken new steps in its plan to open a second Bell Works location, luring its first office and retail tenants to a 1.65 million-square-foot campus outside Chicago.

Retail
Marcus: Net-leased dollar store property sells for $1.7 million

A private buyer has closed on a 10,000-square-foot dollar store property in Trenton, acquiring the net-leased asset for more than $1.7 million.

Residential & Mixed Use
Leasing underway at new upscale apartments in Bogota

The builder of a new luxury apartment complex in Bogota has launched leasing at the property’s first phase, unveiling more than 300 homes and a host of upscale amenities.

Retail
Larken, auto body business complete 2,800 sq. ft. lease in Springfield

Larken Associates has signed a new tenant at a Springfield shopping center, inking a 2,750-square-foot lease with a local auto body business.

Retail
Krispy Kreme adding Paramus location after leasing 4,000 sq. ft., Goldstein Group says

Krispy Kreme has leased 4,000 square feet at a former McDonald’s location in Paramus, under a newly announced transaction by The Goldstein Group.

Health Care & Education
Franklin Lakes parcel slated for medical office building changes hands, NAI Hanson says

A developer has acquired two-thirds of an acre in Bergen County, where it’s now planning a medical office building aimed at capturing the growing demand for health care space.

Industrial
Turnbridge, Harbor Group sell Parsippany industrial building for $85 million

A joint venture has sold a Parsippany industrial building for more than $85 million, marking the culmination of a two-year investment and turnaround for the 550,000-square-foot property.

Residential & Mixed Use
Workforce housing developer, investor acquires Jersey City portfolio for $21.5 million

A firm that specializes in mixed-income and workforce housing is expanding to New Jersey, acquiring a nine-building, 74-unit portfolio in Jersey City for $21.5 million.