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
Leases by accounting firm, consumer goods giant mark auspicious start for revamped Parsippany campus

A joint venture has inked two key leases at a Parsippany office campus, providing a source of momentum as it enters the final stages of a plan to transform the well-known property.

Office
JLL inks sale of two-building office portfolio in Cherry Hill

An institutional investor has sold a two-building, 167,000-square-foot office portfolio in Cherry Hill, under a newly completed transaction by JLL.

Professional Services
CBRE broker promoted to first vice president

A longtime office broker with CBRE’s New Jersey team has earned a promotion to first vice president.

Industrial
Medical marijuana dispensary acquires Vineland industrial building, NAI Mertz says

A medical marijuana company has acquired more than 50,000 square feet of industrial space in Vineland, brokers with NAI Mertz said, marking the operator’s first location in New Jersey.

Professional Services
As SIOR chapter president, Vetter looks to expand association’s profile in New Jersey

A veteran broker at NAI James E. Hanson has taken the reins as New Jersey chapter president of the Society of Industrial and Officer Realtors.

Government & Public Policy
HMFA debuts $50 million loan program for special needs housing projects

State officials have unveiled a new $50 million loan program aimed at funding 400 apartments for disabled veterans, homeless individuals and other residents with special needs.

Office
Kearny Point developer lands $16.5 million for creative office project

Hugo Neu Group has secured more than $16 million in financing to restore and repurpose another building at its flagship Kearny Point campus in Kearny, where it’s adding some 90,000 square feet to the existing stock of creative office space.

Industrial
Freight carrier takes 32,000 sq. ft. in Raritan Center, BRC says

A trucking company has leased more than 30,000 square feet of industrial space in Edison, under a newly completed transaction by Bussel Realty Corp.

Professional Services
Ware Malcomb announces new civil engineering manager in Newark office

Design firm Ware Malcomb has named a new civil engineering manager in its Newark office, tapping a longtime industry professional to help expand its platform in the region.

Retail
Monmouth County retail property sells for $3.9 million, Marcus says

A private buyer has paid nearly $4 million for a 12,000-square-foot retail property in Monmouth County, in a newly completed transaction by Marcus & Millichap.