New Jersey Commercial Real Estate News

These stories are supplied by the CoStar Group.  The articles contain a cross-section of northern New Jersey happenings in the world of commercial real estate.  These articles are updated regularly.


Northern New Jersey Commercial Real Estate News From CoStar Group

Shoppers in the New York City region could see more outlet center options after New York state attorney general Eric T. Schneiderman and Simon Property Group reached a settlement under which Simon agreed to modify longstanding 60-mile radius tenant exclusivity clauses in lease contracts with retailers at its Woodbury Common Premium Outlets center. These clauses typically impose substantial penalties on retailers that open a second store within...

8/22/2017 1:15:28 AM

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Chicago, San Francisco, Boston, Northern New Jersey, Washington DC, Los Angeles, New York City, Atlanta, Minneapolis, Seattle, Salt Lake City, Las Vegas, Toronto, Austin, Dallas / Ft. Worth and South Florida. CHICAGO Cushman & Wakefield Adds Tyler as Managing Director By...

8/18/2017 2:00:00 AM

The select top industrial lease signed during the first half of 2017 in the Northern New Jersey market was at 2 Brick Yard Rd. - Bldg. 2 in the Exit 8A submarket. JLL represented the landlord in a 992,043-square-foot lease there in the second quarter. Target leased 718,219 square feet at 980 High St. - Bldg. C in the Perth Amboy / GSP Industrial submarket. CBRE and Bridge Development Partners represented the landlord. Fisher International...

8/18/2017 1:45:35 AM

Aldi Supermarket has signed a lease for 21,927 square feet at the Windsor Heights Shopping Center in East Windsor, NJ. Located at 440 US Highway 130, the 150,949-square-foot neighborhood center is anchored by a Ross Dress for Less and a Staples Office Supply. Jay Miller and John Krause with CBRE represented the landlord, Advance Realty.

8/16/2017 2:52:53 AM

John C. Sawyer has joined the Hackensack, NJ office of full-service commerical real estate firm NAI James E. Hanson as a sales associate. In his new role, Sawyer will work alongside Russell Verducci and Eric Demmers, focusing on sales and leasing of industrial properties across the Northern New Jersey markets. Sawyer brings more than 20 years of experience, most recently serving as a sales associate with Blau & Berg in Short Hills where he...

8/15/2017 2:15:21 AM

The Food Emporium, a chain of grocery stores in New York and New Jersey, signed a ten-year lease deal for 25,258 square feet in the Plainsboro Plaza shopping center at 10 Schalks Crossing Rd. in Plainsboro, NJ. The Plainsboro Plaza was constructed in 1987 and totals 206,315 square feet. Other tenants include Planet Fitness and the UPS Store. Ron DeLuca of R.J. Brunelli & Co. LLC and Matthew Flath of Onyx Equities LLC represented the landlord...

8/15/2017 2:11:23 AM

STAG Industrial, Inc., a Boston-based REIT, sold a warehouse in Piscataway, NJ for $17.8 million, or $79 per square foot, to CAC Global, Inc. The 226,000-square-foot industrial facility, located at 251 Circle Dr. N, was vacant at the time of closing. Originally built in 1976, this property boasts a ceiling height of 24 feet and sits on 11.4 acres. Jason Goldman and Andrew Siemsen of Cushman & Wakefield of New Jersey, Inc. represented STAG Industrial...

8/15/2017 12:42:31 AM

Rialto Capital Management LLC sold the two office buildings at 150 and 200 Meadowlands Pky in Secaucus, NJ to Alma Realty Corp. for $21 million, or $61 per square foot. Totaling 343,597 square feet, both properties were originally built in the 1970’s and underwent renovations in 2004. The campus is home to Schiavone Construction, Ashley Stewart, Cory 1st Choice Home Delivery and Image Processing Systems. "150 & 200 Meadowlands is highly proximate...

8/8/2017 2:52:59 AM

CBRE elevated Jeremy Neuer to senior vice president and co-leader of its capital markets group focusing on New Jersey office and industrial sales where he will work alongside vice chairman Jeff Dunne. Neuer joined CBRE from Cushman & Wakefield in 2011 and continued to focus on office and industrial leasing throughout the state. While he has always worked closely with the firm's capital markets team, in his new role he will shift to investment...

8/8/2017 1:21:46 AM

Urstadt Biddle Properties, Inc. acquired the mixed-use property at 20-40 Washington Ave. in Dumont, NJ from Landmark Development for an undisclosed price. Landmark is the original developer of the 74,187-square-foot property, which has two buildings: a single-tenant Stop & Shop and a 26-unit apartment building situated above ground-floor retail space. The property was 100 percent leased at the time of sale. Seth Pollack of Cushman & Wakefield...

8/8/2017 1:15:24 AM



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