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.

Residential & Mixed Use
Move-ins underway at 99-unit building in historic Jersey City neighborhood

A new 99-unit luxury apartment building in Jersey City has started to welcome its first residents.

Office
Larken, dermatology practice ink 1,300 sq. ft. lease in Parsippany

Larken Associates has completed a 1,343-square-foot lease in Parsippany with a growing dermatology practice.

Retail
CVS opens at Russo’s sprawling mixed-use project in Union

CVS Pharmacy has opened its doors at Russo Development’s new mixed-use property in Union, joining several other retailers serving hundreds of new apartments and Kean University.

Event Coverage
United Way event features media icon Forbes, honors high-profile Warren office deal

The United Way of Northern New Jersey hosted its annual fundraiser with the commercial real estate industry, which featured an interview with media icon Steve Forbes and the presentation of its Impact Award to one of the state’s most high-profile office deals of 2019.

Residential & Mixed Use
Jersey City forges ahead with high-profile development pipeline, despite pandemic

While local officials across New Jersey have hit the brakes on large-scale projects, Jersey City has made a deliberate effort to keep its pipeline flowing since the start of the health and economic crisis, as many developers remain bullish on its booming residential market.

Industrial
NAI Hanson: Trucking firm takes 50,000 sq. ft. in Elizabeth industrial deal

A trucking and logistics business is subleasing nearly 50,000 square feet at an Elizabeth industrial building, according to brokers with NAI James E. Hanson.

Industrial
Flooring business takes 20,000 sq. ft. in Fairfield, KenKap says

A carpet company has committed to 20,000 square feet at a Fairfield industrial building, under a newly announced transaction by KenKap Realty Corp.

Retail
South Jersey bar operator adds new location, liquor license in Burlington County

A specialty bar and restaurant operator is expanding in South Jersey after acquiring a liquor license in Evesham Township, brokers with Vantage Real Estate Services announced.

Editor’s Note
In spite of it all

It was a busy spring, surprisingly so, and I know many of you would agree. I’ve seen it firsthand in the lease and sale announcements that have continued to hit my inbox these last three months, with many of them offering praise to the parties involved for getting the deal done in the midst of “challenging economic times” or “uncertain market conditions.” I know full well that much of the industry is still hurting. We won’t lose sight of that. But we will take the opportunity to highlight some of the positive things that are happening in spite of the pandemic.

Finance & Capital Markets
Princeton office building owner lands $20 million refi, C&W says

The owner of a Princeton-area office building is refinancing the property for nearly $20 million, under a transaction arranged by brokers with Cushman & Wakefield.