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.

Top News
VanRockCRE launches with longtime brokers Huter, Palestina at the helm

Veteran brokers CJ Huter and Marc Palestina have launched VanRockCRE, a new commercial real estate services firm focused on retail and mixed-use properties in New Jersey.

Government & Public Policy
Hartz lands $57 million Aspire award to clean up, redevelop Secaucus site as 775,000 sq. ft. warehouse

Hartz Mountain Industries will build a new 775,000-square-foot warehouse in Secaucus with the help of a nearly $57 million tax credit under New Jersey’s Aspire program, following a major environmental cleanup at the site that allows it to qualify for the incentive award.

Retail
Jiu-Jitsu gym takes 2,100 sq. ft. in Pine Brook for second location, Azarian says

A martial arts studio has leased more than 2,100 square feet at a Morris County shopping center, in a newly announced deal by Azarian Realty Co.

Events
NAIOP hall of fame induction to serve as latest honor for Lieb, venerated MDC chairman

L. Robert Lieb, the esteemed chairman of Mountain Development Corp., will mark yet another career milestone on Monday when he joins NAIOP New Jersey’s Hall of Fame.

Office
WCRE: Marlton medical office condo sold to owner of dermatology practice

The owner of a health care practice has acquired a more than 10,000-square-foot medical office condominium in Evesham Township, in a deal arranged by Wolf Commercial Real Estate.

Hospitality & Tourism
JLL: RiverLink Hotels sells 122-room Courtyard by Marriott on Route 46 in Wayne

A hotel developer has sold a 122-room Courtyard by Marriott property at the nexus of three major highways in Wayne, in a newly announced deal by JLL.

Residential & Mixed Use
FM Equities buys 68-unit Orange rental property in $10.8 million deal arranged by Berkadia

Investment firm FM Equities has acquired a 68-unit garden apartment property in Orange for nearly $11 million, according to a listing team with Berkadia.

Government & Public Policy
EDA approves Paramount as ‘studio partner,’ allowing for bonus tax credits at Bayonne campus

Paramount’s new production hub in Bayonne is now eligible for larger awards under New Jersey’s Film and Digital Media Tax Credit program, following a vote Thursday by state officials to designate the company as a so-called studio partner at the campus.

Retail
Local buyer adds 13,000 sq. ft. strip center in Paterson for $5.3 million, Marcus says

A local investor has purchased a nearly 13,000-square-foot strip center in Paterson for $5.25 million, brokers with Marcus & Millichap announced Thursday.

Retail
Larken, optical shop ink 1,200 sq. ft. lease at retail center just outside New Jersey

Larken Associates has lured a new tenant to a shopping center just outside New Jersey — in Pennsylvania’s Pike County — signing a lease with a growing eye care practice.