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.

Government & Public Policy
NJAA pushes back as Murphy calls for multiyear repayment plans for past due rent

The New Jersey Apartment Association is raising new concerns about a bill that would create long-term repayment plans for renters impacted by the pandemic, following Gov. Phil Murphy’s latest show of support for the measure during his recent State of the State address.

Residential & Mixed Use
Gebroe-Hammer touts $1.3 billion in 2020 multifamily deal volume, despite pandemic

Gebroe-Hammer Associates is hailing the completion of some $1.3 billion in transaction volume in 2020, defying the pandemic and showing the strength of the multifamily sector.

Retail
Grocer signs new 24,500 sq. ft. lease at Jersey City shopping center, LMC says

A local grocery chain has signed a new 24,500-square-foot lease at a Jersey City shopping center, under a newly completed transaction by Levin Management Corp.

Office
Chilmark tapped as leasing agent at Vision building in Mountain Lakes

The owner of a 66,000-square-foot office building in Mountain Lakes has tapped Chilmark Real Estate Services as its leasing broker at the property.

Industrial
Investment firm acquires 23,000 sq. ft. Moorestown industrial asset, Colliers says

A buyer has made its entrance to the South Jersey industrial market with its acquisition of a 22,500-square-foot property in Burlington County.

Residential & Mixed Use
Journal Square apartment building with 31 units sells for $4.4 million, CBRE says

The longtime owners of a 31-unit apartment building in Jersey City have sold the property for $4.4 million, in a newly announced transaction by CBRE.

Technology
Developer, founder of online soil marketplace, thriving in new role as tech entrepreneur

Launched in 2018 by a veteran builder, a new platform is serving as an online marketplace for construction professionals to locate, transport and acquire soil and aggregates.

Industrial
JLL inks sale of 12,200 sq. ft. kitchen, distribution facility in Meadowlands

A local operator has sold a commercial kitchen and distribution facility in the Meadowlands, in a newly completed transaction by JLL’s Northeast industrial team.

Professional Services
Lowenstein announces new partner in real estate group

Lowenstein Sandler LLP has named seven new partners, including a member of its real estate practice group.

Retail
NAI Hanson: E-scooter company eyes first showroom, signs retail lease in Budd Lake

An online seller of electric bikes, scooters and motorcycles is opening its first showroom after signing a lease at a Morris County retail building, according to NAI James E Hanson.