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
NJ Transit, Horizon exploring plan to redevelop Newark office sites and build new 250,000 sq. ft. headquarters for health insurer

The site of two office buildings in downtown Newark could become up to 1,000 apartments and retail space under a proposal that involves the prospect of a new ground-up, 250,000-square-foot headquarters for Horizon Blue Cross Blue Shield of New Jersey.

Residential & Mixed Use
Russo, Terminal debut 216-unit rental project as second phase of Orange development

Russo Development has unveiled a second apartment building in Orange, delivering another 216 units along NJ Transit’s Morris & Essex Line and adjacent to a project completed in 2023.

Residential & Mixed Use
TAY Investments eyes 365-unit Jersey City rental project, its largest to date

TAY Investments has detailed plans to build 365 apartments at a recently acquired site in Jersey City, in what would be the largest project to date in the firm’s fast-growing portfolio.

Office
NAIDB: Westfield office building to become swim school after $2.2 million sale

A swim school operator has acquired a 9,700-square-foot office building in Westfield for more than $2.2 million, according to a listing team with NAI DiLeo-Bram & Co.

Residential & Mixed Use
Kushner adds 295-unit luxury rental property in Virginia’s Hampton Roads region

Kushner has expanded its holdings outside New Jersey, acquiring a 295-unit multifamily property in southeastern Virginia that opened its doors last year.

Professional Services
Stockton, Hofstra library renovations among DIGroup’s latest higher ed projects

The renovation of Stockton University’s main library in Galloway is taking shape as part of a $19.5 million project spearheaded by DIGroup Architecture.

Industrial
Konkus Corp., logistics firm ink 2,500 sq. ft. lease in Hillsborough, Deluccia says

A transportation and freight services firm has taken 2,500 square feet at a renovated industrial property in Hillsborough, in a deal arranged by Deluccia Commercial Group.

Finance & Capital Markets
JLL: Lions Group, Goldman ink $200 million financing package for new Journal Square tower

Lions Group has secured some $200 million in financing and capital commitments for a planned 34-story, 360-unit apartment tower in Jersey City’s booming Journal Square section.

Community
For NAIOP New Jersey, return of food bank volunteer day highlights fresh focus on community action

NAIOP New Jersey’s day of service this summer came amid its renewed focus on community action, one of six goals outlined in a four-year strategic plan unveiled earlier this year.

Professional Services
Bothner joins Bennett Realty & Development as junior broker

Bennett Realty & Development has hired John Bothner as an associate with its Holmdel-based team of leasing and commercial sales brokers.