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.

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.

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.

Industrial

CBRE: Stay-at-home orders poised to accelerate growing demand for cold storage

The coronavirus pandemic figures to accelerate what had already been a growing trend — the need for additional cold storage space to meet the demand for online grocery sales.

FMERA extends deadline for offers to buy 31-acre Fort Monmouth parcel

State officials have extended the deadline for offers to buy more than 30 acres at the former Fort Monmouth property, where redevelopment efforts are ongoing.

Deals

Commercial portfolio in Camden changes hands, Vantage RES says

A local business owner has acquired a series of commercial properties in Camden, under a newly announced transaction by Vantage Real Estate Services.

Office

JLL: Owner of ex-Toys R Us headquarters eyes office, retail uses in repositioning plan

The new owner of the former Toys R Us headquarters in Wayne has tapped JLL to market the property, seeking a mixed-use, multitenant approach as it repositions the campus.