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
Petrucci to build 200,000 sq. ft. light manufacturing hub as part of Buffalo-area redevelopment

J.G. Petrucci Co. Inc. is bringing its talents to western New York, where it plans to build at least 200,000 square feet of light manufacturing space at a redevelopment area outside Buffalo.

Industrial
Three-building, 20,000 sq. ft. flex portfolio in Matawan changes hands, Sheldon Gross says

A private business has acquired more than 20,000 square feet of commercial space across three buildings in Matawan, in a deal arranged by Sheldon Gross Realty and KBC Advisors.

Professional Services
DIGroup announces four leadership promotions in New Brunswick, Philly offices

DIGroup Architecture has named a new principal and promoted three other leaders across its New Brunswick headquarters and satellite office in Philadelphia.

Retail
Yada Properties inks new leases in Whitehouse Station with hair salon, cafe

Yada Properties is welcoming two new tenants at a Readington retail center after a set of leases totaling nearly 6,600 square feet.

Residential & Mixed Use
New TFE townhome-style rental project in Somerville hits 50 percent leased milestone

TFE Properties has leased 50 percent of a new rental project that will bring 174 townhome-style units to a location just outside downtown Somerville.

Government & Public Policy
Bill to boost housing density with extra state aid to towns clears Assembly committee

State lawmakers are hoping to create new housing in New Jersey with an incentive-based approach, unveiling a bill that would boost aid to municipalities that update their zoning to allow for higher-density residential development.

Office
CBRE: Keystone sells 151,000 sq. ft. Fair Lawn office building to Atkins for $22 million

Keystone Development + Investment has sold a more than 151,000-square-foot medical and professional office building in Fair Lawn for $22 million, in a deal arranged by CBRE.

Industrial
SJP expanding Southeast footprint with new 294,000 sq. ft. logistics building near Charlotte

SJP Properties has unveiled plans to build nearly 294,000 square feet of new logistics space outside Charlotte, continuing its expansion in key Southeast industrial markets.

Professional Services
PREMIER Design + Build promotes Tobias to vice president, project development, in Northeast

PREMIER Design + Build Group has promoted Alexis Graziosetta-Tobias to vice president for project development of its Northeast region.

Deals
Downtown Morristown development site trades for $4.9 million, Marcus says

A local private investor has acquired a development site in downtown Morristown for $4.9 million, brokers with Marcus & Millichap announced Monday.