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
MetLife leases 181,000 sq. ft. at Warren campus owned by Vision, Rubenstein

Insurance giant MetLife is headed to Warren Corporate Center in Somerset County, where it will lease nearly 181,000 square feet of office space alongside several other blue-chip tenants.

Hospitality & Tourism
JLL: Hilton Short Hills owner seeking buyer for 314-key property

The 314-key Hilton Short Hills, a well-known property and business destination in one of the state’s top suburban locations for office space, is on the market for sale.

Industrial
Rockefeller, MBK Real Estate to build 2 million sq. ft. logistics park in Central Pennsylvania

Rockefeller Group is expanding to Central Pennsylvania with more than 2 million square feet of new industrial space to be built by its regional development team based in Morristown.

Residential & Mixed Use
New 60-unit Wharton property fully rented after redevelopment project by Diversified

Diversified Properties LLC has completed its lease-up of a new 60-unit luxury apartment building in Wharton just months after unveiling the project.

Retail
Net-leased daycare center property in Parsippany sells for $4.3 million, Marcus says

A private investor has purchased the site of a net-leased daycare center in Parsippany for $4.3 million, brokers with Marcus & Millichap announced last week.

Office
JLL: Exchange operator MIAX signs 94,000 sq. ft. lease renewal at Princeton-area campus

A securities exchange company has signed a lease renewal at a Princeton-area office building, where it occupies more than 94,000 square feet under a deal with Signature Acquisitions.

Government & Public Policy
Towns file federal lawsuit over New Jersey affordable housing law, adding to state litigation

The coalition of towns seeking to undo New Jersey’s new affordable housing law is taking its case to federal court, arguing the framework violates the Constitution’s equal protection clause.

Professional Services
LMC hires Oliver, seasoned real estate accounting executive, as CFO

Levin Management Corp. has appointed Jeanette Oliver as chief financial officer, adding another highly accomplished and experienced professional to its executive team.

Residential & Mixed Use
Cervelli: Five-unit rental building changes hands on Jersey City’s West Side

A local investor has purchased a five-unit apartment building in Jersey City’s West Side neighborhood, according to a team with Cervelli Real Estate and Property Management.

Retail
Bergman adds 2,500 sq. ft. drive-thru tenant at Cherry Hill shopping center, WCRE says

Bergman Real Estate Group has lured a new tenant to a shopping center in Cherry Hill, in a newly announced deal by Wolf Commercial Real Estate.