NEW JERSEY COMMERCIAL REAL ESTATE REPORT



"I never would have thought that industrial property would be selling for $100 a square foot, sometimes, more than office, or that there would be double-digit rents of $10 a square foot," said Jaime Weiss, president of Weiss Realty Co., Inc., in Moonachie, a brokerage involved in industrial, office and retail leasing and sales.

For his own part, Mr. Weiss is seeking to develop a five-story, 27,000-square-foot building in Englewood and is talking to medical centers to lease or purchase space. "There's a growing need for medical space," he said.