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
PT practice takes 5,400 sq. ft. for Paramus headquarters, NAI Hanson says

A physical therapy practice is relocating its headquarters in Paramus, inking a lease for nearly 5,400 square feet near the busy intersection of routes 4 and 17.

Professional Services
Diversity, mentorship are key ingredients in consulting firm’s growth

One of the state’s fastest-growing environmental consulting firms has embraced the increasing diversity in the field, a step that is critical to the company’s larger goal of attracting and developing talent at the top of its ranks.

Retail
Four new retailers opening at Bell Works

Four new retailers are planning to open stores at Bell Works, the sprawling mixed-use destination created by Somerset Development at the former Bell Laboratories in Holmdel.

Deals
NAI Hanson inks sale of Rochelle Park lot to landscaping business

A landscaping company has expanded its footprint with the acquisition of a 0.6-acre lot adjacent to its Rochelle Park headquarters, in a newly announced transaction by NAI James E. Hanson.

Residential & Mixed Use
Miami apartment owner invests in 401-unit Newark high-rise

A high-rise apartment complex in Newark’s Forest Hill section has changed hands for $73 million, drawing a preferred equity investment from a Miami-based multifamily owner.

Residential & Mixed Use
PAM Properties, Cervelli lead turnaround of Ocean County apartment complex

An ownership and management team is hailing the turnaround of a 344-unit apartment complex in Ocean County, spurring improved retention and an increase in rental rates as part of an effort that has garnered acclaim from the industry’s top trade association.

Finance & Capital Markets
JLL details equity, debt package for 267-unit Elizabeth project

The firms behind a high-profile redevelopment project in Elizabeth have landed more than $20 million in equity alongside a $55 million construction loan, under a set of transactions by JLL.

Industrial
C&W tapped to sell 41,000 sq. ft. industrial building in South Plainfield

The owner of a 41,000-square-foot industrial building in South Plainfield is seeking a buyer for the property, brokers with Cushman & Wakefield announced, touting its value-add potential in a burgeoning submarket along Interstate 287.

Top News
LMC named management agent at Somerset County shopping center

Levin Management Corp. has added to its leasing and management portfolio in New Jersey, taking over a 67,500-square-foot retail property in the Franklin Park section of Franklin.

Retail
Phillipsburg retail property fetches $4.7 million, Marcus says

A partnership has sold a nearly 20,000-square-foot retail property in Phillipsburg, in a $4.72 million transaction arranged by Marcus & Millichap.