Developer begins building second Morristown apartment property

Following the success of its first luxury apartment building in Morristown, developer Mill Creek Residential has started construction on a second phase that will add another 185 units to the site.

Apartment complex continues to grow in Jersey City as second part opens

A developer has completed the second piece of a high-end apartment complex in an up-and-coming section of Jersey City along the Hoboken border.

A mattress for millennials? Paladini finds his market

Scott Paladini grew up in the bedding industry. His father, William, was a longtime executive in the sector before starting his own company. So it only made sense that Paladini would do the same, opening a mattress outlet in Bernardsville in 2012 called Hibernate Bedding.

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N.J. apartment owners thrive, but keep eyes on the horizon

When it comes to baseball analogies &#8212 an old favorite for discussing real estate cycles &#8212 Tim Henkel agrees that it&#8217s the sixth or seventh inning for multifamily owners and builders. With one caveat.

Sitex Group building industrial complex in Ridgefield

A parcel in Ridgefield along the New Jersey Turnpike will be home to a new two-building industrial complex, Cushman Wakefield said, under a project being developed by Sitex Group.

RPAI signs new tenant at The Shoppes at Union Hill

Retail Properties of America Inc. , announced Friday the signing of a new lease with Soft Surroundings at The Shoppes at Union Hill in Denville.

RPAI signs new tenant at The Shoppes at Union Hill

Retail Properties of America Inc. , announced Friday the signing of a new lease with Soft Surroundings at The Shoppes at Union Hill in Denville.

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Cushman Wakefield arranges sale of Boulevard Plaza in Parsippany

Cushman Wakefield announced recently that it has arranged the sale of Boulevard Plaza, a 86,000-square-foot, five-story office building located in Parsippany.

Cushman Wakefield named leasing agent for Warren Corporate Center

Cushman Wakefield has been named the exclusive leasing agent for Warren Corporate Center in Warren, it announced Thursday.

NAI Hanson finds housewares distributor new location in Norwood

NAI James E. Hanson, a New Jersey based commercial real estate firm, announced the sale of an industrial building in Norwood.

2016 Q1 Commercial Real Estate Market Survey

The REALTORS® Commercial Real Estate Market Trends measures quarterly activity in the commercial real estate markets, as reported in a national survey. The survey collects data from REALTORS® engaged in commercial real estate transactions. The survey is designed to provide an overview of market performance, sales and leasing transactions, along with information on current economic challenges and future expectations.

Survey Highlights

• 58% of REALTORS® closed a commercial sale.
• Sales volume totaled $51.6 billion
• Sales volume... Read More
  
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Rutgers-Newark, RBH planning 70M residence hall, honors learning facility

A new 400-bed residence hall and honors learning facility is coming to downtown Newark under a 70 million project unveiled this week by Rutgers University and developer RBH Group.

Bussel brokers sale of two industrial properties in Linden

Bussel Realty Corp. announced recently that Jordan Metz, a vice president at the Edison-based real estate services firm, arranged the 15 million sale of two industrial properties in Linden.

Software solutions firm will keep growing with move to Bell Works

A fast-growing software solutions firm will occupy 72,000 square feet &#8212 with the option to double that space &#8212 to become the largest tenant to date in the redevelopment of the iconic Bell Labs building in Holmdel.

Jersey Mike's signs lease in Raritan

Jersey Mike&#8217s, a fast-casual sub and sandwich franchise, has leased space at the Somerville Circle Shopping Center in Raritan.

Stonegate Realty acquires apartment complex in Hackensack

Stonegate Realty LLC has acquired a garden-style apartment complex in Hackensack for 8. 7 million, it announced Wednesday.

Marcus Millichap completes 1.85M sale of retail property

Marcus Millichap announced the 1. 85 million sale of a retail property in Little Ferry, according to Brian C. Hosey, regional manager of the firm&#8217s New Jersey office.

Consumers Inc. sells its 42,000 sq. ft. facility in Bridgewater

Consumers Inc. has recently sold its 42,000-square-foot facility in Bridgewater for 4. 5 million, according to Berkshire Hathaway HomeServices New Jersey Properties and Tim Deluccia, broker-associate with the firm&#8217s Martinsville office and partner at Deluccia Commercial Group.

Demand for big industrial space soars past even surging supply, CBRE says at roundtable

It wasn't long ago that developers saw a need for big box industrial space in New Jersey and responded in a big way, unleashing a surge of speculative construction that continues today.

Denholtz remediating, restoring Franklin manufacturing facility

Denholtz Associates is hoping to bring a long-vacant Franklin building back to life after acquiring it and developing a plan for environmental remediation and renovation, the developer announced recently.

110 condos sell for 13M in Union City

A recent sale transaction saw more than a third of the condominiums in a Union City building change hands for 13 million, according to real estate firm The Kislak Company Inc.

Law firm renews lease at Hackensack's Court Plaza

A longtime tenant at Court Plaza North has renewed its lease, office complex owner Alfred Sanzari Enterprises announced recently.

HFF closes 27.13M sale of Class A industrial building in North Jersey

Holliday Fenoglio Fowler L. P. has closed the 12. 125 million sale of a Class A, 446,076-square-foot industrial and office building in Morris County.

Toys R Us appoints global CTO

Toys R Us Inc. announced Monday that Lance Wills has joined the company as executive vice president, global chief technology officer, effective June 13.

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Liberty Science Center awards gala mixes genius, humor and big bucks

Exhibits at the Liberty Science Center have been teaching kids that science can be really fun for more than two decades. The center's fifth annual Genius Awards on Friday night in Jersey City proved a perhaps more unlikely hypothesis Scientists can be really funny, too.

Room to grow Embassy Suites in Berkeley Heights aims to capture untapped market

With more than two decades in the hospitality sector, much of it in the business and travel hub of Atlanta, Leila Campisi knows a crowded hotel market when she sees one.

Keeping kosher, with a twist

The Manischewitz Co. in Newark manufactures the leading kosher brand in America. Almost any Jewish family in the state could tell you that.

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Toys R Us appoints president, Asia Pacific

Wayne-based Toys R Us Inc. has appointed Andre Javes president, Asia Pacific, effective May 27.

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Justin Corporate Center I in Manalapan changes hands

KABR Group has sold a Manalapan office building to the Torsiello Organization, according to Cushman Wakefield, which brokered the deal.

Groundbreaking is culmination of long journey for Prologis, Fedway

The concrete walls of what will be Elizabeth's newest industrial building were already standing in the distance, but a celebratory &#8220groundbreaking&#8221 was still very much in order for Prologis Inc.

Two Raritan Center industrial buildings fetch 25M

Federal Business Centers is the new owner of two Raritan Center industrial buildings in Edison, following a 25 million sale orchestrated by brokerage firm Cushman Wakefield.

Fairfield office complex sold for 9.2M

A four-building office complex in Fairfield has changed hands for 9. 2 million in a deal brokered by The Kislak Co. Inc. , the brokerage firm said Wednesday.

FIRPTA Withholding Rate Increased to 15 Percent for High-End Properties

Good news for the U.S. commercial real estate industry: The Protecting American Taxpayers from Tax Hikes (PATH) Act includes two very positive FIRPTA provisions that are conservatively estimated to boost foreign investment in U.S. commercial real estate by $20-$30 billion per year.

However, as part of a package of tax changes to “pay for” the two provisions, Congress also included an increase in the FIRPTA withholding rate from 10 percent to 15 percent. It should be noted that residences purchased from foreign persons will not be affected by the higher withholding rate... Read More

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Spring 2016: Seize The Momentum

Table of Contents

United We Stand...Focused: A Note From the President

Advocacy: A Look at Several of the Issues Important to Your Business

Your 2016 Commercial Leadership

Commercial Lending Trends of 2016

... Read More

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Raymour Flanigan leases outlet store space at Paramus Place

Levin Management has arranged a lease with Raymour Flanigan to open an outlet store in Paramus, it announced Tuesday.

Raymour Flanigan leases outlet store space at Paramus Place

Levin Management has arranged a lease with Raymour Flanigan to open an outlet store in Paramus, it announced Tuesday.

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NAR’s 2016 MIPIM Recap

MIPIM, one of the largest real estate property events in the world, brings together the most influential players from all international property sectors - office, residential, retail, healthcare, sport, logistics and industrial, offering unrivaled access to the greatest number of development projects and sources of capital worldwide. This past March, MIPIM drew over 23,000 attendees from 89 countries countries, and included 2,400 exhibiting companies and 4,800 investors. NAR returned to host an expanded USA Pavilion to increase awareness of... Read More

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On-spec logistics center adds to influx of development in Florence

The newly announced Amazon fulfillment center in Florence is about to have company, as a developer moves ahead with plans for a new big-box distribution center across the street.

American Dream's ski slope has an operator, developer announces

The indoor ski slope at the American Dream site in the East Rutherford &#8212 one the most recognizable features of the project and its much-maligned predecessors &#8212 will come to life with a ski and snowboard park under a partnership unveiled Monday by developer Triple Five.

Montclair State leasing space in Little Falls for administrative offices

Montclair State University will be among the newest tenants at Overlook Corporate Center in Little Falls, following a multimillion-dollar upgrade to the property by owner Theta Holding Co.

Citizens Bank leases space in Marlton

WCRE represented Somerset Properties in leasing and marketing an office suite to Citizens Bank, it announced Friday.

Finding a secure spot in the home security business

It turns out that even the installation and monitoring of home security systems isn't recession-proof. That's what Supreme Security Systems discovered from its Union headquarters during the recent economic downturn.

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The Queen of Kings Spires details Kings Food Markets' past, present and future while accepting ACG Corporate Lifetime Achievement Award

Judy Spires approached the role of chairman and CEO of AG Supermarket Holdings with a simple, personal mantraA good leader defines their vision by first figuring out everything that their organization does right.

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May 2016 Economic and Commercial Real Estate Outlook

These slides were presented by NAR Chief Economist Lawrence Yun at the Commercial Economic Issues & Trends Forum at the REALTORS® Legislative Meetings & Expo in Washington, DC, on May 12, 2016.

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Addition of Newell HQ brings Hoboken complex to full occupancy

The third and final office tower in a mixed-use redevelopment of Hoboken's waterfront has reached full occupancy, thanks to the newly announced relocation of Newell Brands Inc.

Lending Remains Largest Concern for Commercial Real Estate Market, Say Realtors®

WASHINGTON (May 13, 2016) — Realtors® specializing in commercial real estate expressed confidence in the continued recovery seen in the market but concern over the availability of commercial financing, during a commercial economic issues and trends forum at the 2016 REALTORS® Legislative Meetings & Trade Expo.

National Association of Realtors® Chief Economist Lawrence Yun discussed the forces affecting commercial markets and said that while the overall market is seeing continued recovery, trepidation remains... Read More

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Tire wholesaler leases industrial space in New Providence

Jersey Wholesale Tire Corp has leased 23,622 square feet of a 67,584-square-foot industrial building in New Providence, Bussel Realty Corp. announced Thursday.

NAI Mertz inks lease for engineering firm at Class A office building in Mt. Laurel

Commercial real estate firm NAI Mertz announced it has inked a 2,700-square-foot lease in Mount Laurel to Garg Consulting Services, an engineering firm.

NAIOP's Commercial Real Estate Awards Gala 'Most cost-effective' way to get deals done in N.J.

When it comes to the value of networking, Lance Blake can speak from personal experience.

Le Peep restaurant coming to Levin-managed Capitol Plaza in Ewing

Fast-casual breakfast and lunch restaurant chain Le Peep will soon lease space at the Capitol Plaza in Ewing, Levin Management announced Thursday.

Le Peep restaurant coming to Levin-managed Capitol Plaza in Ewing

Fast-casual breakfast and lunch restaurant chain Le Peep will soon lease space at the Capitol Plaza in Ewing, Levin Management announced Thursday.

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Kislak completes 17.75M sale of 45 new luxury units in Red Bank

The Kislak Company Inc. announced the 17. 75 million sale of a new Class A 45-unit luxury apartment building in downtown Red Bank.

Lakeland Bank renews lease at Sanzari-owned Court Plaza

Lakeland Bank has renewed its lease at the Court Plaza North, located at 25 Main St. in Hackensack, it announced Wednesday.

Upgraded building in East Hanover sold for second time since 2014

A three-story office building in East Hanover has changed hands for the second time in two years, following upgrades to the property by its outgoing owner.

Pharma manufacturing facility sold for 20M

A pharmaceutical manufacturing building in Totowa has changed hands and found a new tenant after a 20 million deal orchestrated by JLL, the real estate services firm announced.

Philadelphia-area engineering firm names new CEO

Urban Engineers, a national engineering firm with an office in Cherry Hill, has announced a new CEO and president will take over later in the year.

Joint venture sells 86 acres in Hanover to Bayer HealthCare

The developers of the sprawling former Alcatel-Lucent campus in Hanover are touting another milestone in its redevelopment the sale of the remaining undeveloped land to Bayer HealthCare.

KRA Insurance Agency and New Agency Partners announce merger agreement

KRA Insurance Agency Inc. and New Agency Partners LLC announced that the two companies merged on April 1, resulting in a newly-formed company, KRA Agency Partners Inc.

New Lead Risk Reduction Credit

The EPA that the United States Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) Pilot Credit program has announced a newly available “Lead Risk Reduction Pilot Credit.”  Its intent is to reduce adverse health impacts and environmental pollution in buildings through the implementation of improved maintenance and lead-safe work practices, and to provide staff with the necessary information they need to promote lead-safe practices.  It specifically focuses on lead paint in dust, soil, and water.  In order to qualify for the... Read More

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Joint venture breaks ground on Elizabeth warehouse facility

A joint venture between Elberon Development Group and The Avidan Group LLC broke ground recently on a 90,000-square-foot warehouse and distribution facility in Elizabeth.

IPA arranges sale of Monmouth County assisted living facility

Institutional Property Advisors, a division of Marcus Millichap, announced the sale of an assisted living and memory care facility in Tinton Falls.

OSHA cites Elizabeth roofing company over alleged lack of fall protection

A lack of fall protection for roofing workers should cost an Elizabeth company, according to the U. S. Department of Labor's Occupational Safety and Health Administration.

Ex-ATT complex in Morris Twp. is up for sale, with redevelopment in mind

A longtime home of ATT in Morris Township is on the selling block &#8212 and both real estate brokers and local officials are pitching it as a would-be redevelopment site.

CW hired to sell Clifton office property

Cushman Wakefield has been retained to sell a property in Clifton, it announced Wednesday.

CBRE brokers sale of lifestyle center in Denville

CBRE Group Inc. announced the sale of The Shoppes at Union Hill in Denville.

Dollar Tree, Sally Beauty and others lease spaces in N.J., Pa.

R. J. Brunelli Co. LLC announced the recent completion of a series of leases that will introduce Dollar Tree, Sally Beauty and other professional services to areas in New Jersey and Pennsylvania.

CBRE brokers sale of lifestyle center in Denville

CBRE Group Inc. announced the sale of The Shoppes at Union Hill in Denville.

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Dollar Tree, Sally Beauty and others lease spaces in N.J., Pa.

R. J. Brunelli Co. LLC announced the recent completion of a series of leases that will introduce Dollar Tree, Sally Beauty and other professional services to areas in New Jersey and Pennsylvania.

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SHI opens new integration center

SHI International Corp. has opened a new integration center in Piscataway, it announced Tuesday.

Marcus Millichap complete 2.26 sale of mixed-use building in Cranford

Marcus Millichap announced the sale of a mixed-use property in Cranford for approximately 2. 26 million, according to Brian C. Hosey, regional manager of the firm&#8217s New Jersey office.

Linden shopping center sold for 3.25M

A shopping center in Linden has been sold for 3. 25 million in cash, according to real estate brokerage The Kislak Company Inc.

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Linden shopping center sold for 3.25M

A shopping center in Linden has been sold for 3. 25 million in cash, according to real estate brokerage The Kislak Company Inc.

AvalonBay opens new property in Union

AvalonBay Communities has opened its latest development in New Jersey, a 202-unit property on Vauxhall Road in Union.

Advance Realty's Peter Cocoziello explains the secret behind bringing global business to N.J.

As part of a sit-down with NJBIZ recently, Advance Realty's Peter Cocoziello described how he has found success in attracting companies such as Nestle Health Science to his properties.

Law firm renews lease in Hackensack

Deutsch Atkins P. C. , an employment law firm practicing in New Jersey and New York, has renewed its lease at Court Plaza North in Hackensack, according to building owner Alfred Sanzari Enterprises.

Marketing firm expanding into Fort Lee property

A growing email marketing firm has found a new home within Fort Lee, with plans to occupy the third floor of the well-known Southpole building in the borough.

Stro acquires industrial portfolio in Teterboro, Northvale for 7M

The Stro Companies has acquired an industrialflex portfolio in Teterboro and Northvale for 7 million, it announced Monday.

Avison Young hires principal in Morristown

Office leasing professional Kenneth Porreca has joined Avison Young as a principal in its Morristown office, the real estate services firm announced.

SBA names New Jersey's Small Business Person of the Year

The U. S. Small Business Administration has named its 2016 New Jersey Small Business Person of the Year, it announced Monday.

Benjamin Ross Group closes sale of Servpro in Burlington County

Benjamin Ross Group announced Monday the recent acquisition of its client, Servpro in Burlington County, to a private investor.

NAI Hanson arranges industrial warehouse lease for furniture transportation company

NAI James E. Hanson has brokered an industrial warehouse lease in Bayonne to a furniture and antique transportation company, TramoHome, it announced Monday.

How patience paid off for Advance in Bridgewater

A recent zoning change in Bridgewater may look like another incremental step for Advance Realty, given the long list of approvals needed for its ambitious redevelopment plans there.

SMALL BUSINESS Property brothers Group stumbled onto FutureStay, a software solution that manages rental properties on multiple platforms

When FutureStay co-founders S. Philip Kennard and Jonathan Fabio launched their idea for a web-based software to help property owners manage their rental businesses, it was just meant to be a side project. They soon found out it wasn&#8217t much of one.

How patience paid off for Advance in Bridgewater

A recent zoning change in Bridgewater may look like another incremental step for Advance Realty, given the long list of approvals needed for its ambitious redevelopment plans there.

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SMALL BUSINESS Designing woman Paula Varsalona, who went out on her own when few women did, played a role in changing the bridal industry

Paula Varsalona thought she was doing the right thing after graduating in 1971 with a degree in fashion design from Washington University in St. Louis.

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