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.

Features
Rutgers real estate program eyes new degrees, new investment as it looks to the future

With a foundation in place and support from many of the state’s top commercial real estate leaders, the Rutgers Center for Real Estate is now looking ahead to the next five years and beyond. The program’s leaders feel that further growth will hinge on expanding and fine-tuning the course offerings — such as creating a standalone real estate major and a master’s in real estate — while navigating the challenges of fundraising and scaling up to support their growing student population.

Retail
Cabinet maker acquires Camden County retail property, Vantage RES says

A cabinetry business has acquired a 3,150-square-foot retail building in Camden County, under a newly announced transaction by Vantage Real Estate Services.

Sponsored Content
Morristown’s transformation set to continue with new office, residential projects

Morristown has become one of New Jersey’s premier transit-oriented areas situated within a unique urban/suburban setting. Morristown’s 24/7 vibrant downtown is defined by its walkable and rapidly growing retail and residential developments. The heart of the commercial corridor surrounds the Morristown Green, a two-and-a-half-acre park that is bordered by upscale housing, office towers along with many restaurants and shopping options, attracting a high concentration of millennials.

Industrial
New Jersey slated for third-largest expansion of industrial space this year, report says

With modern logistics space still in short supply across the country, northern New Jersey will be among the top three markets this year to expand its stock of industrial buildings.

Residential & Mixed Use
Marcus inks $7.5 million fractured condo sale in Toms River

An investment group has paid more than $7.5 million to acquire a 52-unit fractured condominium package in Toms River, according to Marcus & Millichap.

Professional Services
Mandelbaum Salsburg adds new member in environmental law group

Mandelbaum Salsburg PC has deepened its bench of environmental lawyers with one of its newest additions.

Office
Nonprofit finds new headquarters, acquires mixed-use building in Hawthorne

A nonprofit has acquired a nearly 11,000-square-foot building in Hawthorne, with plans to use the mixed-use property as its new headquarters and fourth location.

Residential & Mixed Use
JLL: Newly developed rental building in Jersey City sells for $53 million

A joint venture has sold a newly built, 104-unit apartment building in Jersey City’s Bergen-Lafayette neighborhood, in a $53 million transaction brokered by JLL.

Residential & Mixed Use
Brooklyn landlord sells 255-unit Newark portfolio for $22 million

An eight-building, 255-unit apartment portfolio in Newark has changed hands for more than $22 million, following an off-market transaction arranged by Alpha Realty.

Office
KBS touts 51,000 sq. ft. in leasing activity at Woodbridge office complex

A subtenant at a Woodbridge office park has signed a new direct lease for nearly 19,000 square feet, in the largest of six transactions announced Wednesday by KBS.