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.

Industrial
New 102,000 sq. ft. Somerset warehouse attracts tenants in furniture delivery, agriculture

A developer has secured two leases to fill more than 102,000 square feet of new industrial space in the Somerset section of Franklin, brokers with Bussel Realty Corp. announced Tuesday.

Industrial
Ridgecut Road adds 5.8-acre industrial service, outdoor storage facility in Lincoln Park

Ridgecut Road has acquired a 5.8-acre industrial service and outdoor storage property in Lincoln Park, expanding its portfolio to a high-demand submarket in Morris County.

Professional Services
NAI DiLeo-Bram hires Goswami as associate with industrial team

NAI DiLeo-Bram & Co. has welcomed Sweemit Goswami as its newest associate, hiring the former intern to focus on the northern and central New Jersey industrial market.

Retail
Sanzari fills 4,200 sq. ft. at Hackensack retail center with new liquor store lease

A new wine and liquor store is coming to Alfred Sanzari Enterprises’ Summit Plaza in Hackensack after committing to more than 4,200 square feet at the property.

Residential & Mixed Use
Walters completes lease-up of new 34-unit affordable housing property in Ocean County

Walters has filled a new four-building, 34-unit affordable housing community in the Manahawkin section of Stafford Township, the developer announced last week.

Health Care
HELIX taps Portal Innovations to manage incubator at transformative New Brunswick project

The landmark Health & Life Science Exchange of New Jersey campus in New Brunswick has found a key partner for the project’s incubator space, announcing a pact with Portal Innovations to spearhead a facility for startups and entrepreneurs from nearby universities.

Retail
Heidenberg-led JV acquires grocery-anchored center at Paramus Park Mall for $38 million

An investment group has acquired a more than 181,000-square-foot retail asset alongside the Paramus Park Mall and near the crossroads of Route 17 and the Garden State Parkway.

Residential & Mixed Use
JLL: Russo, KRE close on Bergen Town Center parcel for 426-unit apartment project

Urban Edge Properties has completed its sale of a parcel at Bergen Town Center in Paramus, paving the way for a new 426-unit multifamily project by Russo Development and KRE Group.

Retail
Office space at The Park nearly full, as Connell taps leasing agent for campus’ retail space

The Connell Co. has named a leasing team for the growing retail component at The Park, its flagship campus in Berkeley Heights, having all but leased up the property’s 1.5 million square feet of office space.

Residential & Mixed Use
Cannon Hill, Hampshire tap Sparrow as property manager at Hackensack rental building

Cannon Hill Capital Partners and The Hampshire Cos. have picked Sparrow Management as the new property manager at an 82-unit luxury apartment building in Hackensack.