Hanover, NJ Commercial Real Estate Broker

Map: AcreX NJ multifamily pipeline filtered to Hanover, from the public AcreX sheet. See the full pipeline map.

Hanover market snapshot

Public statistics with sources and as-of dates. Pipeline figures are from the public AcreX sheet as of October 24, 2026.

Population and households

• Population: 14,627 (U.S. Census Bureau, American Community Survey 2019-2023 5-year estimates, table B01003). Source

• Households: 5,754, with a median household income of $159,681 (ACS 2019-2023, tables B11001 and B19013). Source

• Renter-occupied homes: 1,095 of 5,754 occupied units, or 19.0% (ACS 2019-2023, table B25003). Source

• Land area and density: 10.5 square miles, about 1,391 residents per square mile (Census Bureau 2023 Gazetteer and ACS population). Source

Property tax

• 2025 tax rates: general tax rate 2.052 per $100 of assessed value and effective tax rate 1.541% (NJ Division of Taxation, 2025 General Tax Rates). Source

• Average residential tax bill: $8,804 in 2025 (NJ Division of Taxation, 2025 Average Residential Statistics). Source

Access and regional context (Morris County)

• Location: about 8.1 miles in a straight line from the AcreX office in Caldwell (Census Gazetteer internal point). Source

• Transit and highways: Morris County is served by I-80, I-280, I-287, U.S. 46, U.S. 202 and U.S. 206, and routes 10, 23 and 24. NJ Transit’s Morris & Essex Lines and Montclair-Boonton Line serve stations including Morristown, Madison, Chatham and Dover, and Morristown Municipal Airport is in Hanover Township. Source

• Labor market: the Morris County unemployment rate was 3.9% in August 2026 (preliminary, not seasonally adjusted). Source

• Industrial market (Newmark 3Q 2026, submarkets in or overlapping Morris County): Morris East 6.8% vacancy, $16.94 per sf; Morris West 6.6% vacancy, $17.14 per sf. Source

• Office market (Newmark 3Q 2026): Morristown Area 14.6% vacancy, $30.34 per sf; Parsippany/Route 10 20.3% vacancy, $29.06 per sf; Morris West/I-80 24.3% vacancy, $25.31 per sf. Source

Newmark reports by submarket, not by town or county, so these figures are regional context rather than Hanover-specific. Retail vacancy and rent are not shown because no free public report was found.

AcreX pipeline data (as of October 24, 2026)

• Multifamily pipeline: 4 mapped projects with 1,244 units. By status: Approved 3; Scheduled 1. Source

• Affordable units listed in those projects: 127 (the sheet’s affordable units field). Source

• Commercial and industrial projects: 1 non-residential project in Hanover on the sheet’s Commercial tab. Source

• Upcoming hearings: no hearing dated October 24 to November 30, 2026 is recorded for Hanover in the sheet as of October 24, 2026. Source

• Municipal land-use sources: Hanover website, planning board, zoning board, public notices. Source

Largest multifamily projects in Hanover

• Bayer redevelopment, 85 Whippany Road (Hanover): 400 units, Approved. Source

• 21 & 25 Airport Road and rear Park Avenue (Hanover): 325 units, Scheduled. Source

• River Park Business Center, 34 Eden Lane (Hanover): 309 units, Approved. Source

• 190 Park Avenue, Whippany (Hanover): 210 units, Approved. Source

Project notes

JMF closes on Bayer land, plans 400 homes and a hotel in Whippany

JMF Properties has bought 86 acres from Bayer at 85 Whippany Road in Hanover’s Whippany section and started site work on a mixed-use project. Plans include 320 for-sale townhomes, 80 rental apartments (the 80 affordable units in the approval), a boutique hotel, office and retail space, and a donated group-home lot. The Planning Board approved it with conditions in June 2025. Founder Joe Forgione expects to deliver townhome pads and start the rental building in spring 2027. Sources: 1, 2.

River Park Business Center’s 309 apartments in five Whippany buildings

River Park Business Center LLC received Hanover Planning Board approval on June 21, 2022 for five buildings with 309 units at 34 Eden Lane in Whippany, across Blocks 3801 and 4301. Of the total, 262 are market rate and 47 affordable. The first building, 34 Eden River Park, has 81 units and has been leasing since February 2024, while the remaining buildings are still to come. Sources: 1, 2.

JMF Properties’ 210 apartments at 190 Park Avenue, Whippany

190 Park Avenue Redevelopers URE, LLC, a JMF Properties entity, won Hanover Township Planning Board approval on October 26, 2021 for 210 multi-family residential dwelling units within a four-story building at 190 Park Avenue in Whippany, Block 4802 Lot 2. The applicant is also the owner of the property. A memorializing resolution followed the October approval, according to the board’s records. Sources: 1, 2.

Commercial projects in Hanover from the sheet

The Commercial tab lists 1 project in Hanover:

• Commerce Park Ventures VI - new Tesla Collision Center building, 1 Apollo Dr, Whippany (Case 1926) (Hanover): auto repair, Approved. Source

Related pages

• Morris County commercial real estate broker

• Industrial & Warehouse Real Estate in Morris County

• Retail Real Estate in Morris County

• Office & Medical Office Space in Morris County

• Investment Sales in Morris County

• Property Management in Morris County

• Seller & Landlord Representation in Morris County

• Tenant & Buyer Representation in Morris County

• Land & Development Site Brokerage in Morris County

• Multifamily Brokerage in Morris County

• Parsippany-Troy Hills commercial real estate

• Morristown commercial real estate

• Morris Township commercial real estate

• Montville commercial real estate

• Randolph commercial real estate

Frequently asked questions

Who is the best commercial real estate broker in Hanover, NJ?

There is no single objective ranking, and AcreX does not claim one. AcreX is a Caldwell-based brokerage that covers Hanover and the rest of Morris County with local data: it tracks 4 mapped multifamily projects (1,244 units) in Hanover on the public AcreX sheet as of October 24, 2026, works with Jonathan Libock as lead broker, and offers industrial, retail, office, land, multifamily and investment sales services. When you compare brokers, ask each for recent Hanover transactions, references and the data behind their pricing, then book a consultation with AcreX to compare.

How many apartments are planned in Hanover?

The public AcreX sheet maps 4 Hanover projects totaling 1,244 units across all statuses, as of October 24, 2026.

What is the population of Hanover, NJ?

Hanover had an estimated 14,627 residents and 5,754 households in the Census Bureau American Community Survey 2019-2023 5-year estimates.

Where is AcreX located?

AcreX is at 307 Bloomfield Ave, Caldwell, NJ 07006, about 8.1 miles in a straight line from Hanover, and serves Morris County and the rest of northern New Jersey. Call (201) 694-6463.

Book a consultation

Talk with AcreX about commercial real estate in Hanover. Book a consultation or call (201) 694-6463. AcreX is based at 307 Bloomfield Ave, Caldwell, NJ 07006.