With renters flocking to Walker House’s 264 apartments and commitments from a host of retailers, L+M Development Partners is keenly focused on the third piece of its formula. The New York-based developer, alongside brokers with JLL, has stepped up efforts to market more than 50,000 square feet of available office space at the building, touting the promise of downtown Newark’s resurgence and a workplace that is like few others in New Jersey.
A joint venture is reaping the rewards of a plan to reposition a sprawling research and development complex in Bridgewater, having sold the campus for more than $150 million. All the while, the deal has cast a light on the allure of life sciences as a real estate investment class and the power of collaboration by brokers across multiple geographic markets.
Piscataway’s office market has bounced back in recent years, with rents rising and vacancy falling, thanks to new investment and redevelopment that have helped revitalize and right-size the township’s stock of buildings.
Demand for cold storage warehouse space nationwide, and particularly in the Garden State, is on fire, largely because of rising online fresh grocery sales and changing consumer preferences for fresher foods. Meeting that demand could prove challenging — given the cost and complexity of such projects and the need for specialization — but some developers are positioning themselves to be ready when users come calling.
A new town center is taking shape in Burlington County, serving as the focal point of more than 1,000 homes within a master-planned, 500-acre development that is two decades in the making.
A landmark package of new rent control laws passed by the New York State government in mid-June appears to have kick-started a new kind of boom for the New Jersey real estate market. The laws, which dramatically strengthened tenant protections in New York City, took key steps such as repealing what was known as the vacancy bonus provision, which had allowed a property owner to raise rents as much as 20 percent each time a unit became vacant.
Top Safety Products, a business that builds first aid kits for the construction industry and a host of others, has been serving its clients for three decades. But the Branchburg-based firm is now primed to expand with the help of new products and an increasingly diverse group of customers.
With roots that date back more than 100 years, a Parsippany-based firm that provides janitorial, security, concierge and other services has seen its business spike in recent years amid the wave of new construction and new ownership within the multifamily space.
The convenience was hard to beat at Denholtz Properties’ longtime headquarters in Matawan, a three-story office building that sits directly off the Garden State Parkway. But the firm’s new office in Red Bank has much more to offer.
NAI James E. Hanson opened its new 17,000-square-foot headquarters in Teterboro last fall, honoring its past while creating a modern workplace for its brokers, property managers and other employees.