The economic engine powering the New Jersey industrial real estate market will continue to be the rapidly transforming retail sector, driven primarily by relentlessly rising demand from consumers for rapid home delivery of purchases, whether from online retailers or traditional but restructured brick-and-mortar retailers.
Smaller-sized leases continued to dominate New Jersey’s office market as 2019 came to a close, putting a drag on overall deal volume as larger transactions remained elusive.
Levin Management Corp. has made another addition to its team, hiring a longtime property management executive to help oversee its growing commercial portfolio.
Construction is underway at the final piece of major mixed-use development in uptown Hoboken, where plans call for more than 100,000 square feet of office space alongside retail and luxury condominiums.
Demand for New Jersey industrial space continues to surge, causing asking rents to skyrocket even as developers race to deliver new buildings.
A biotechnology company is consolidating its headquarters, manufacturing and research and development functions as part of a new full-building, 147,215-square-foot lease in Florham Park.
Industry veteran Brian Banaszynski has joined Transwestern’s national development arm, where he will spearhead the firm’s expansion into the Northeast industrial market.
Transwestern is on the move in New Jersey, announcing plans to grow its footprint and shift its operations from Parsippany to Florham Park.
A nonprofit has reaped $5 million from the sale of its 20,000-square-foot office building in downtown Morristown.
A developer has acquired an 81,000-square-foot office building in East Hanover, with plans to renovate the property and reposition it as a skilled nursing and rehabilitation center.