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
New Jersey industrial rents ‘skyrocket’ as demand outpaces supply, Transwestern says

Demand for New Jersey industrial space continues to surge, causing asking rents to skyrocket even as developers race to deliver new buildings.

Professional Services
Gilbane moves New Jersey office to downtown Newark

Gilbane Building Co. is moving its New Jersey office to downtown Newark, in a nod to the construction firm’s growing ties to the city as well as its recent expansion in the state.

Finance & Capital Markets
HFF inks $36 million refi for Woodbridge cold storage project

A joint venture has closed on a nearly $36 million loan to refinance a fully leased, 182,154-square-foot cold storage facility in Woodbridge, following a transaction arranged by HFF.

Industrial
Auto parts distributor takes 37,000 sq. ft. in Carlstadt, NAI Hanson says

An auto parts distributor and developer has leased 36,750 square feet at a Carlstadt industrial building, brokers with NAI James E. Hanson announced Thursday.

Office
Denholtz completes 14,500 sq. ft. renewal at Hamilton business park

An engineering and consulting firm has renewed its nearly 14,500-square-foot lease at a Hamilton commercial complex, under a newly completed transaction by Denholtz Associates.

Retail
Hackensack: Restaurant, café debuts 3,000 sq. ft. location at Sanzari medical arts building

A restaurant and café operator has opened its doors in Hackensack at the base of a well-known medical office building owned by Alfred Sanzari Enterprises.

Finance & Capital Markets
Newest hire for Procida has deep connection to industry veteran

Procida Funding and Advisors has made a new addition to its asset management team, one whose family has deep ties to company founder Billy Procida.

Professional Services
Locally grown: Lee & Associates, marking 10 years in New Jersey, is primed for additional expansion

Lee & Associates is marking 10 years since the launch of its New Jersey office, having grown from just four brokers and three employees to a team of 55, thanks in large part to the firm’s distinctive broker-owned model and a growing number of service lines.

Health Care & Education
Bridgewater medical office building, surgery center fetches $7 million

A medical office building and surgical center in Bridgewater has changed hands for $7 million, following a transaction arranged by Weichert Commercial Brokerage.

Residential & Mixed Use
Grand opening slated for 91-unit Newark rental project

Developers are preparing to take the wraps off a new residential building in Newark’s North Ironbound section, having already leased nearly half of its 91 luxury apartments.