Residential & Mixed Use
Hudson Capital Properties sells 288-unit North Bergen rental community, CBRE says

Hudson Capital Properties has sold a six-building, 288-unit apartment property in North Bergen, in a newly announced deal by CBRE.

Technology
Data center vacancy for tristate region hits all-time low, CBRE report finds

Soaring demand for data center space has pushed vacancy in the region to an all-time low in recent months, thanks in part to the growth of firms tied to artificial intelligence.

Residential & Mixed Use
Hoboken parcel fetches $7.5 million in latest deal involving ex-NRIA portfolio, CBRE says

AIRN Management has sold a multifamily development site in Hoboken for $7.5 million, in the latest deal involving the former holdings of National Realty Investment Advisors LLC.

Office
Sanzari, Bertone Piccini sign 12,000 sq. ft. renewal at Heights Plaza

Alfred Sanzari Enterprises has signed a lease renewal with Bertone Piccini LLP, a longtime tenant at its Heights Plaza property at the junction of Route 17 and Interstate 80.

Office
Accordia Realty Ventures details new office, retail deals in Essex and Bergen counties

Accordia Realty Ventures has announced several new leases and renewals at office buildings in northern New Jersey, part of a flurry of year-end activity for the Fairfield-based firm.

Office
Veris under contract to sell Harborside 5, its final office building, for $85 million

Veris Residential Inc. is on the verge of shedding its one remaining office building, a nearly 1 million-square-foot tower in Jersey City that is under contract to sell for $85 million.

Retail
Three tenants sign leases at new 8,200 sq. ft. retail center in Warren, CBRE says

Signature Acquisitions has leased up nearly 8,200 square feet of new retail space near Interstate 78 in Warren, in a series of transactions arranged by CBRE.

Industrial
Deugen sells new 48,000 sq. ft. warehouse in East Rutherford after successful redevelopment

Deugen Development has sold a nearly 48,000-square-foot industrial building in East Rutherford, in the culmination of a redevelopment plan that began less than three years ago.

Residential & Mixed Use
Buyer wanted for Hoboken development site approved for 60 luxury rentals, CBRE says

A development site in Hoboken is on the market for sale with approvals in place for a seven-story, 60-unit luxury apartment building with street-level retail space.

Events
An uneven recovery? NAIOP panelists see different paths for different asset types in 2024

The state’s industrial and office sectors both faced headwinds in 2023, but the year ahead for each asset class may be decidedly different. That was a key takeaway last week from panelists at NAIOP New Jersey’s Annual Meeting and Commercial Real Estate Outlook, who noted that demand for warehouse and logistics space has normalized after a record-breaking run during the pandemic. Office landlords, meantime, are still grappling with shrinking corporate footprints and remote work policies, further straining submarkets that are both aging and oversupplied.