Retail

The New Jersey retail landscape has changed, but the spending power of its residents hasn’t. Owners of malls, shopping centers and mixed-use projects will continue to adapt and invest in the state.

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2018 REAL ESTATE MARKET FORECAST

With the state’s unemployment rate below 5.0 percent, employee recruitment and retention will remain top priorities for office occupiers in the coming year. Rather than remaining in outdated, inefficient workspaces, a growing chorus of companies will pursue relocations to upgraded, amenity-filled office buildings to aid in these efforts.

Retail
Walgreens property in Hamilton fetches $5.5 million

A private investor has paid more than $5.5 million for a 14,280-square-foot Walgreens property in Hamilton, in a sale brokered by Marcus & Millichap.

Deals
Ripco: Shake Shack coming to new Parsippany retail center

Shake Shack will be among the tenants at a 157,000-square-foot shopping center now under construction in Parsippany, under a newly announced lease with RD Management and JMF Properties.

Retail
Branchburg building sold for gas station expansion

A gas station operator in Branchburg has acquired an adjacent building as part of a plan to build a new 3,000-square-foot convenience store, in a deal arranged by Remco Realty Group.

Office
Larken Associates touts 2017 acquisition, construction activity

Developer and property manager Larken Associates closed some 350 transactions in 2017, accounting for nearly 500,000 square feet across its commercial portfolio.

Retail
Retailers lease 20,000 sq. ft. at Edison complex

A new business and an existing tenant have leased nearly 20,000 square feet at an Edison commercial complex, in a series of transactions announced by Weiss Realty.

Office
Advance earns prestigious designation for CRE management

A global trade association has recognized Advance Realty with an accreditation tied to high standards of property management, placing it in the company of fewer than 550 firms worldwide.

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Real Estate NJ’s 2018 Market Forecast

What does the year 2018 have in store for New Jersey’s commercial real estate market? We put out a call to the industry and were fortunate to recruit some of the state’s most influential developers, professionals and thought leaders to give us their predictions for the year ahead.

Professional Services
WCRE promotes VP to principal

A broker at Wolf Commercial Real Estate has become its newest principal and shareholder, earning the promotion less than four years after joining the firm.

Retail
Ex-furniture store changes hands on Route 22, Remco says

An electrical products distributor and wholesaler has acquired a furniture store in North Plainfield, in an $850,000 transaction arranged by Remco Realty Group.