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.

Event Coverage
March of Dimes honors Milanaik, raises $270,000 in virtual progam

The March of Dimes has honored one of New Jersey’s top industrial developers as part of a popular commercial real estate industry fundraiser that was held virtually this year.

Residential & Mixed Use
Pennrose hits 70 percent leased milestone at New Brunswick apartment tower

A new 207-unit luxury apartment tower in downtown New Brunswick is more than two-thirds leased after a recent flurry of activity by renters.

Retail
Three new tenants join Burlington retail center, leasing a combined 57,000 sq. ft.

The owner of a Burlington shopping center is touting the addition of three new national tenants, following a recent renovation of the nearly 400,000-square-foot property.

Residential & Mixed Use
Nutley apartment building fetches $19 million, Gebroe-Hammer says

The developer of a 108-unit apartment building in Nutley has sold the property for $19 million, in a newly announced transaction by Gebroe-Hammer Associates.

Government & Public Policy
HMFA reopens landlord relief program, expands eligibility to owners of up to 30 units

The state has extended and expanded an emergency grant program for New Jersey apartment landlords, drawing praise from the multifamily sector despite the need for additional relief.

Professional Services
JLL announces new hire in New Jersey debt, equity placement team

JLL has added to its New Jersey capital markets group with one of its newest hires in the state.

Industrial
Connors Agency inks industrial sales in Hillside, Linden

Two Union County industrial buildings have changed hands in recent weeks, in a set of transactions arranged by The William F. Connors Agency.

Retail
Goldstein Group: Appliance store opens 4,700 sq. ft. space at Paramus strip center

An appliance store has opened its doors at a Paramus strip center, joining two other tenants to bring the 13,000-square-foot property to full occupancy.

Office
NKF, Murray Construction detail revamp of Westfield office building (SLIDESHOW)

A brokerage and development team has unveiled plans to revamp a 70,000-square-foot office building in Westfield, offering a rare block of space in the town’s popular business district.

Policy Page
Taking the temperature of New Jersey’s economy and commercial real estate sector

We are now more than six months into the pandemic that shut down much of New Jersey’s economy in early March. I thought it would be a good time to pause to look at where we are in terms of recovering from the staggering unemployment and economic losses caused by the health crisis. There is some surprisingly good news, but it must be taken with a strong dose of caution.