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.

People
NJBA installs Mann as 68th president alongside newest slate of board officers

The New Jersey Builders Association has installed its newest president, tapping a Millburn-based developer and attorney to help guide the organization in the year ahead.

Top News
EDA reboots grant program to help municipalities rescue stranded malls, office parks

The state Economic Development Authority has relaunched a funding program aimed at helping suburban communities repurpose underutilized retail or office park properties.

Retail
CBRE: Gourmet food, wine market opens 8,600 sq. ft. Paramus store

A new upscale food and wine market has opened its doors in Paramus, where it has leased more than 8,600 square feet under a transaction arranged by CBRE.

Professional Services
WCRE adds business development adviser

Wolf Commercial Real Estate has announced the hiring of a new business development adviser to help bring the firm’s services to new clients.

Residential & Mixed Use
Journal Square apartment building trades for $25 million, Gebroe-Hammer says

An Ohio-based company has added to its New Jersey holdings with its recent purchase of a 94-unit apartment building in Jersey City, in a deal arranged by Gebroe-Hammer Associates.

Government & Public Policy
Revival of iconic Paterson stadium on the horizon, with hometown developer at the helm

A plan to restore and reopen Paterson’s historic Hinchliffe Stadium is now within reach, as the project moves ahead under a team led by a hometown developer, in an effort that will also honor the site’s history as a Negro League baseball stadium. The mixed-use project could even become a focal point for redevelopment in Paterson, which has lagged behind other large New Jersey cities that have seen high-profile, public-private revitalization efforts.

Industrial
Global logistics, fulfillment firm takes 347,000 sq. ft. in Edison, CBRE says

An international logistics company has leased nearly 350,000 square feet at a newly built industrial building in Edison, according to a brokerage team with CBRE.

Retail
Advance touts seven new retail openings at redeveloped Roxbury retail center

Advance Realty Investors has welcomed seven new retailers at a 450,000-square-foot, open-air center at the site of a former mall along Route 10 in Roxbury.

Office
Chilmark: Media company takes 6,200 sq. ft. in Secaucus, in move from Midtown

A tenant is relocating from Manhattan to more than 6,000 square feet of office space in Secaucus, under a newly announced transaction by Chilmark Real Estate Services.

People
Hampshire announces new hires for finance, accounting teams

The Hampshire Cos. has made several new hires this year as part of a plan to bolster its internal financial and accounting capabilities.