Events
NAIOP honors new hall of fame class, CRE industry leaders

A crowd of nearly 400 turned out Monday night as NAIOP New Jersey inducted three commercial real estate leaders into its hall of fame, while honoring a longtime state government leader and three key industry professionals.

Professional Services
JLL makes key promotion, plans to expand New Jersey property management

JLL has set out to expand and elevate its property management business in New Jersey, promoting a longtime industry professional to oversee the platform.

Professional Services
JLL senior VP named head of project, development services in N.J.

JLL has named a new head of project and development services in New Jersey.

Industrial
JLL: Bordentown business park, development site fetch $19 million

An investment group has sold a two-building office and warehouse complex in Bordentown, in a $19 million sale arranged by JLL.

Office
JLL: Two submarkets lead the way in Q3 office rebound

Two northern New Jersey submarkets accounted for more than 90 percent of the absorption in the region’s office market during the third quarter, according to JLL, leading a comeback after a lackluster start to the year.

Trend Watch
Big-box demand struggles with limited supply

The proliferation of e-commerce spiked leasing velocity in 2016 and 2017 due to significant demand for big-box and mega-box spaces.
Limited supply of big-box space across the state has stalled leasing velocity for YTD 2018.
There are only five (5) availabilities in excess of 500,000 square feet in the state.
Tenants have expanded the geographic scope of requirements into Southern New Jersey and Lehigh Valley to accommodate immediate needs.

Industrial
Stro touts lease-up of newly added warehouse in Elmwood Park

Three tenants have combined to lease 45,000 square feet at an industrial building in Elmwood Park, The Stro Cos. announced, bringing the recently acquired property to full occupancy.

Retail
Panel: Bergen County remains a retail hotbed — and a proving ground for a changing industry

Even in Bergen County — the home of the highest-grossing retail ZIP code in the U.S. — owners and operators are in a race to evolve and face no shortage of challenges.

Office
Montvale office building sells for $14 million

A development and investment firm has reaped $14 million from the sale of a newly upgraded, 94,000-square-foot office building in Montvale, brokers with JLL announced.

Office
Private equity, real estate firms moving to Sanzari campus in Teaneck

Two companies are relocating to Alfred Sanzari Enterprises’ flagship Glenpointe campus in Teaneck, where they are taking a combined 7,300 square feet.