Summit, New Jersey Commercial Real Estate 0 Listings

Summit, New Jersey: A Premier Destination for Commercial Real Estate

Introduction

Summit, New Jersey, is rapidly becoming a pivotal hub for commercial real estate (CRE) investment and development. Situated in Union County, Summit is known for its robust economy and strategic location. With a population of approximately 22,000, the city is home to thriving industry clusters such as finance, healthcare, and professional services, making it an attractive destination for businesses seeking a vibrant and supportive economic environment.

Economic and Industry Overview

Summit's economy is bolstered by major industries including finance, healthcare, and professional services. The presence of these sectors drives demand for diverse commercial property types, from office spaces to medical facilities. The city benefits from regional economic development initiatives, such as the Union County Economic Development Corporation, which supports business growth and CRE investments.

Strategic Location and Transportation Infrastructure

Summit offers a strategic location with easy access to major transportation networks. The city is served by the New Jersey Transit with direct rail lines to New York City, making it a prime location for businesses needing quick metropolitan access. Major highways such as Route 24 and Interstate 78 provide efficient connections to regional markets. Additionally, the proximity to Newark Liberty International Airport enhances Summit's logistical advantages for distribution and access to labor pools.

Commercial Real Estate Inventory & Zoning

Summit's commercial real estate landscape is characterized by several submarkets, including its vibrant Central Business District (CBD) and emerging innovation districts. Key asset classes include office spaces, retail properties, and medical facilities. Recent zoning updates have introduced incentives for developers, fostering growth in mixed-use and innovation-driven projects. To explore zoning maps and parcel viewers, visit the City of Summit's Planning and Zoning Department.

Major Employers and Institutions

The city's commercial real estate demand is driven by top employers such as Overlook Medical Center and Celgene Corporation. These institutions, along with the presence of research centers and tech campuses, play a crucial role in shaping the local CRE market. For a comprehensive list of major employers, visit the Summit Economic Development Advisory Committee.

Notable Commercial Developments & Projects

Summit is witnessing significant commercial developments, including mixed-use projects and innovation parks. The city's participation in public-private partnerships and Opportunity Zones has spurred investment and urban revitalization efforts. For detailed information on ongoing projects, access the Summit Planning and Zoning Board.

Building Permits, Planning, and Development Tools

For developers and real estate professionals, Summit offers a range of resources:

Market Data & Economic Reports

Summit provides access to a wealth of public data sets, including those from census.gov and the city's open data portal. Brevitas leverages AI-powered aggregation to offer real-time insights into Summit's CRE market. Explore Brevitas-powered dashboards for Summit, New Jersey here.

Why Use Brevitas for Summit, New Jersey CRE?

Brevitas offers a unique platform for CRE discovery in Summit, New Jersey, featuring AI-driven tools for real-time market alerts, smart property pages, and dealroom collaboration. Key features include: