After 18 months doing their jobs from home because of COVID-19, many New Jersey workers are returning to flex and co-working spaces. Operators are responding by adding more private suites to their offerings to make users feel safer from infection — and while they’re keeping a wary eye on COVID’s Delta variant, they’re optimistic about demand, for both the short term and long term.
Construction is underway on a project that will bring 66 new upscale apartments and retail space to the Morris County borough of Wharton.
A family-owned HVAC supply company has taken more than 50,000 square feet of industrial space in East Rutherford, according to a brokerage team with CBRE.
A nonprofit has leased nearly 15,000 square feet of office space in Moorestown, in a newly announced transaction by Wolf Commercial Real Estate.
It is anticipated that state regulators will unveil the application process at any time within the next several weeks in order to commence the processing and issuance of recreational cannabis licenses in New Jersey. Thus, there is considerable excitement amongst real estate operators and potential cannabis businesses for the inevitable rapid and (likely) significant growth of the cannabis industry in New Jersey in the coming months and years. Notwithstanding such, as cannabis businesses will be highly regulated at both the state and local level (and remain illegal under federal law), it is critical that property owners and business owners fully evaluate the many regulatory, zoning, operational, and financing challenges associated with utilizing properties for cannabis uses.
Construction is set to begin on a two-building, 555,000-square-foot research complex in New Brunswick, the future home of the state’s flagship medical school and a place where startups can work side by side with New Jersey’s top health care and academic institutions.
A joint venture has landed nearly $30 million in financing for its recent purchase of an office building in Madison’s acclaimed Giralda Farm campus, according to brokers with JLL.
NAI James E. Hanson has announced three new hires aimed at bolstering its research and brokerage teams.