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.

Office
Law firm inks 1,900 sq. ft. renewal in Livingston, NAI Hanson says

A law practice has renewed its nearly 2,000-square-foot lease at a Livingston office building, under a newly announced transaction by NAI James E. Hanson.

Office
Avison Young set to continue as leasing agent at Florham Park campus

The new owner of a sprawling six-building office campus in Florham Park has retained Avison Young as its leasing agent for the property.

Industrial
Joint venture acquires South Jersey industrial portfolio for $43 million

An investment group has closed on its purchase of seven industrial buildings in Burlington and Gloucester counties, acquiring the portfolio for just under $43 million.

Government & Public Policy
Judge sides with landlords, halts rollout of Montclair rent control

A judge has blocked the implementation of a new rent control ordinance in Montclair, siding with property owners who contested the measure after its passage earlier this month.

Retail
Mahwah strip center sells for $10.6 million, Marcus says

A private investor has sold a fully leased shopping center in Mahwah for nearly $11 million, under a newly completed transaction by Marcus & Millichap.

Professional Services
Newmark adds sales associate to growing team

Newmark Associates has expanded its team with the addition of a veteran sales and marketing executive.

Top News
ULI Northern New Jersey donates $500 in meals to New Brunswick hospital workers

The Urban Land Institute’s Northern New Jersey chapter is doing its part to help those battling the COVID-19 pandemic, having donated $500 worth of dinners to health care workers at Robert Wood Johnson University Hospital in New Brunswick.

Government & Public Policy
Montclair landlords sue to block rent control ordinance passed during stay-at-home order

A group of Montclair landlords has sued to overturn a new rent control ordinance in the township, alleging the governing body took action in the midst of the COVID-19 crisis when opponents could not fully mobilize against the measure.

Finance & Capital Markets
Sierotko promoted to EVP, chief lending officer at Provident

Provident Bank has promoted its top commercial real estate lender to executive vice president, chief lending officer.

Office
Brokerage renews 5,400 sq. ft. lease in West Windsor, WCRE says

A real estate brokerage has renewed its lease in the Princeton submarket, where it occupies nearly 5,400 square feet of office space just off Route 1.