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.

Policy Page
We’ve heard this story before — it’s time for a different ending

Gov. Phil Murphy will give his budget message to the Legislature on Tuesday, March 5. As the voice of the commercial real estate development industry in New Jersey, NAIOP’s attention will be focused on the messaging that emanates from Trenton. Given the headlines over the last several months, we are rightly concerned about the state’s fiscal health and its ability to withstand a recession, which is all but certain by 2020.

Retail
Aldi debuts 21,400 sq. ft. store in Hazlet, Goldstein Group says

A new Aldi supermarket has opened its doors in a revitalized shopping center in Hazlet, following a lease arranged by brokers with The Goldstein Group.

Government & Public Policy
Murphy: Developers can seek up to $4 million under proposed historic tax credit program

Gov. Phil Murphy is hoping to lure new investors to some of the state’s oldest buildings, touting a proposed historic preservation tax credit as part of his plan to overhaul New Jersey’s embattled incentive programs.

Retail
Developer unveils new retail projects in Morris, Passaic counties

A developer has taken the wraps off two new ground-up retail projects at busy intersections in northern New Jersey.

Government & Public Policy
EDA: Co-working sites in central, southern New Jersey eligible for rent grants for startups

The state Economic Development Authority has added two co-working facilities in Somerset and Gloucester counties to its list of locations that qualify for rent subsidies for startup businesses.

Office
Veterinary research group takes 5,000 sq. ft. in New Brunswick, Chilmark says

A research and consulting organization has leased 5,000 square feet of office space in New Brunswick, under a recently announced deal by Chilmark Real Estate Services LLC.

Industrial
New 300,000 sq. ft. warehouse project marks new chapter after massive North Brunswick fire

A fulfillment and logistics business has committed to a 300,000-square-foot, built-to-suit facility in North Brunswick, giving new life to an industrial site that was leveled by a massive fire nearly four years ago.

Top News
Editor’s note: Dear Amazon, we’re still here if you need us

Amazon said it won’t reopen its search for a second headquarters after pulling out of New York City, but who’s to say that Newark and other shortlisted cities will just quietly step aside?

Industrial
Duke breaks ground on 662,000 sq. ft. warehouse in Newark port submarket

Duke Realty has broken ground on a speculative, 662,000-square-foot industrial building in the heart of Newark’s port district.

Retail
CBRE: Morris Plains supermarket center sells for $27 million

An investment firm has acquired a grocery-anchored shopping center in Morris Plains, in a nearly $27 million deal brokered by CBRE.