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.

Residential & Mixed Use
Value Cos. picks up management assignment at new Elizabeth rental building

Value Cos. has added a recently opened, 40-unit boutique rental building in Elizabeth to its growing asset management portfolio, the firm announced Monday.

Industrial
Industrial user acquires 65,000 sq. ft. Newark building

A three-story industrial building off Interstate 78 in Newark has changed hands, following a sale brokered by the William F. Connors Agency.

Residential & Mixed Use
Developers eye spring opening for 205-unit project in Harrison

A joint venture is nearing completion of more than 200 new apartments in Harrison, the first piece of a $340 million, mixed-use project along the town’s rapidly changing waterfront.

Industrial
Matrix sells Hamilton truck terminal for $20.5 million, HFF says

An investor focused on logistics property has acquired a nearly 45,000-square-foot truck terminal in Hamilton, in a $20.5 million sale by brokers with HFF.

Professional Services
Greenbaum Rowe adds two real estate attorneys

Two experienced real estate attorneys are among several recent hires at Greenbaum, Rowe, Smith & Davis LLP.

Office
Claims manager takes 5,000 sq. ft. in Atlantic County, Vantage says

A claims management provider has leased 5,000 square feet of office space in Galloway, under a newly announced transaction by Vantage Real Estate Services.

Health Care & Education
WCRE: Former Voorhees school building slated to become daycare center

A new high-end day care facility is slated to open at a 13,000-square-foot school building in Voorhees, following a sale arranged by Wolf Commercial Real Estate.

Residential & Mixed Use
Markeim Chalmers inks $637,500 multifamily sale in Camden County

An investor has acquired a three-building, 10-unit apartment portfolio in Camden County for $637,500, following a deal arranged by Markeim Chalmers Inc.

Editor’s Note
Hoping for growth

New Jersey has only scratched the surface in the co-working and shared office space sector, despite the fact that it is experiencing rapid growth in New York City and other major markets. Fortunately, we’re hearing that the Garden State is poised to grow its share. The industry’s biggest name, WeWork, has ramped up its search for space in New Jersey over the past year, which means its competitors may not be far behind. The requirements have the potential to further strengthen top submarkets such as the Hudson waterfront, while providing a needed boost in areas where vacancy remains high.

Residential & Mixed Use
Onyx launches residential division, details Ridgewood projects

With two new luxury apartment buildings under construction in Ridgewood, Onyx Equities LLC has unveiled the launch of its new residential division.