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
Financial services firm sells Voorhees office building, signs new lease

A financial services firm has sold its Voorhees office building and moved into leased space at a nearby business park, in a set of transactions arranged by Colliers International.

Office
Risk management firm inks 5,700 sq. ft. lease in Mount Laurel, WCRE says

A risk management business for fleet operators has leased nearly 6,000 square feet of office space in Mount Laurel, in a newly completed transaction by Wolf Commercial Real Estate.

Office
Landlords continue right-sizing, refreshing office stock, as state incentives question looms large

With 2020 underway, owners of New Jersey office buildings are closely watching Trenton to see if the state will pass new tax incentives to attract employers. That’s one of the key issues and trends likely to drive the office market this year, according to interviews with brokers and landlords. In fact, observers say the fate of tax incentives will have more impact on New Jersey’s office market than the presidential election.

Professional Services
CBRE announces promotion, names new director of New Jersey project management

CBRE has promoted a member of its New Jersey project management team to director of the practice, the commercial real estate services firm announced Thursday.

Professional Services
Team Resources hires new salesperson

Team Resources Inc. has made a new addition to its Lyndhurst-based brokerage team.

Industrial
Granite, tile maker takes 10,000 sq. ft. at Middlesex building

A granite and tile manufacturer has agreed to lease 10,000 square feet at a Middlesex Borough commercial building, under a transaction by The Boniakowski Commercial Real Estate Group.

Residential & Mixed Use
Kislak foundation awards $50,000 grant to Newark-area Habitat for Humanity

The Kislak Family Foundation has made a $50,000 grant to Habitat for Humanity of Greater Newark, which the organization will use for projects in Essex, Hudson and Union counties.

Retail
JLL: Investment group sells Burlington retail center for $25 million

A joint venture has reaped $25 million from the sale of a nearly 100,000-square-foot, grocery-anchored retail center in Burlington County, brokers with JLL said Wednesday.

Office
Vision, insurance agency ink 6,600 sq. ft. lease at updated Parsippany office building

An insurance firm has leased nearly 7,000 square feet at a Parsippany office building, one of the latest suburban properties to be upgraded and modernized by Vision Real Estate Partners.

Office
Security firm leases 2,200 sq. ft. in Hasbrouck Heights, Sanzari says

A security services company is taking 2,200 square feet of office space in Hasbrouck Heights, under a newly completed transaction with Alfred Sanzari Enterprises.