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
VREP, Rubenstein detail plans to integrate newly acquired Parsippany campuses

A joint venture will set out to connect two pieces of the Morris Corporate Center property in Parsippany, creating what it says is a campus that can support a tenant requirement of more than 500,000 square feet.

Retail
Bell Works inks seven new retail leases for indoor pedestrian plaza

Seven new retail tenants have committed to Bell Works, the mixed-use campus that now occupies the landmark, 2 million-square-foot former Bell Labs complex in Holmdel.

Retail
Bergen County retail building trades for $1.75 million, CBRE says

CBRE has arranged the $1.75 million sale of a single-story, 3,700-square-foot retail property in downtown Wyckoff.

Residential & Mixed Use
Leasing surge fuels momentum at Jersey City rental project

A new 377-unit luxury rental project in Jersey City is more than 50 percent leased, its developer said, thanks in part to a recent surge in which it signed nearly 80 leases in just four weeks.

Events
Rutgers, Monmouth students set to weigh in on Roche campus at NAIOP program

Less than a month after hosting a forum for local residents and other stakeholders, the former Hoffmann-LaRoche campus will welcome aspiring commercial real estate professionals.

Office
JLL hires longtime Mack-Cali leasing executive

The former head of leasing for Mack-Cali Realty Corp. has joined JLL’s brokerage team in New Jersey.

Health Care & Education
CHA acquires, plans to convert ex-Novartis office building in East Hanover

A developer has acquired an 81,000-square-foot office building in East Hanover, with plans to renovate the property and reposition it as a skilled nursing and rehabilitation center.

Industrial
Manufacturer inks 16,000 sq. ft. lease in Somerville, BRC says

A maker of architectural moldings has leased 16,000 square feet at a Somerville industrial building, brokers with Bussel Realty Corp. said recently.

People
New hire will help Hollister navigate a promising trajectory

By Joshua Burd As one of the state’s fastest-growing firms, Hollister Construction Services has bolstered its team with an executive who is well-versed in managing large-scale construction portfolios. The Parsippany-based firm has hired Christopher Cestone as its new vice president…

Professional Services
Guiding the way: Brennan, Simon have positioned Colliers for continued growth in New Jersey

It has been a busy three years for both Kim Brennan and David Simon, who have worked together to lead Colliers International’s expansion in northern and central New Jersey. The global real estate services firm has grown to about 36 leasing and sales brokers in the market — roughly double the size of its team in 2015 — with an expanded focus on industrial, retail and investments sales. Colliers is also marking one year since it opened an office in Woodbridge, its third in New Jersey, to help support its long-term ambitions.