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
LEG: Vertical construction for major Bayonne logistics park to start in 2020

Lincoln Equities Group is on track to begin vertical construction next year for more than 1 million square feet of new industrial space along the Bayonne waterfront.

Office
MDC plans upgrades at 102,000 sq. ft. office building in Woodland Park

Mountain Development Corp. has announced plans to overhaul one of three buildings in a well-known office campus along Interstate 80.

Office
Chilmark named listing agent at Warren office building

The owner of a 110,000-square-foot office building in Warren has tapped Chilmark Real Estate Services as its listing agent.

Residential & Mixed Use
Joint venture debuts 260-unit project in Jersey City, the first of three phases (SLIDESHOW)

A development group is off to a fast start at a new luxury apartment complex in Jersey City, the first of three phases that will add more than 600 units to a fast-growing neighborhood.

Health Care & Education
St. Joseph’s inks 60,000 sq. ft. medical office lease in Totowa, Lee & Associates says

St. Joseph’s Health has leased 60,000 square feet of medical office space as part of an ongoing redevelopment plan in Totowa, brokers with Lee & Associates said Thursday.

Retail
Redeveloper of massive Sayreville site names new senior vice president, director

The developer of a planned 5 million-square-foot, $2.5 billion project at a long-dormant site in Sayreville has hired a new executive to oversee the effort.

Government & Public Policy
EDA rebrands 50-acre research, incubator park in North Brunswick

The state Economic Development Authority has rebranded a well-known 50-acre research and incubator park in North Brunswick.

Residential & Mixed Use
The S.Hekemian Group wins approval to redevelop Mercedes-Benz campus in Montvale

Local officials have cleared the way for a mixed-use, $150 million plan to redevelop the former Mercedes-Benz USA headquarters site in Montvale.

Government & Public Policy
Murphy details tax credit overhaul, unveils new legislation

With less than four weeks to go until New Jersey’s tax incentive programs expire, Gov. Phil Murphy on Wednesday unveiled a bill to establish new subsidies for developers and businesses that would include annual caps on awards and requirements tied to union labor.

Professional Services
Garibaldi hires recent grad as broker support analyst

The Garibaldi Group has continued its effort to bolster its sales team, announcing the addition of a new broker support analyst.