Health Care & Education

CBRE: Vacancy in New Jersey lab, R&D space ticks down, with large users still in the market

The stock of available life sciences space in New Jersey continues to shrink, despite some headwinds, following strong activity in 2022 and what’s likely to be ongoing demand.

Events

Cushman’s Donnelly among honorees slated for NAIOP New Jersey’s 36th annual gala

Veteran office broker Robert Donnelly will receive NAIOP New Jersey’s lifetime achievement award later this year, one of several honorees unveiled Thursday by the commercial real estate association.

Office

AEP, Valley Health ink 23,000 sq. ft. office lease in Paramus, C&W says

American Equity Partners has signed a deal to bring a new health care tenant to a nearly 120,000-square-foot office building in Paramus, brokers with Cushman & Wakefield said.

Professional Services

Veteran architect Weston begins term as AIA New Jersey chapter president

A veteran of the design and construction industry has kicked off his tenure as president of the American Institute of Architects’ New Jersey chapter.

Government & Public Policy

Rutgers launches study on parking usage at multifamily sites, seeking updated state guidelines

The Rutgers Center for Real Estate has launched a study that it hopes will capture real-time data on parking usage at residential properties in New Jersey, as it pushes for updates to the decades-old standards that towns and cities use to guide land use and redevelopment.

Finance & Capital Markets

Pharma firm seeking buyer for active 249,000 sq. ft. R&D facility in Elizabeth, JLL says

The owner of an active research and development facility in Elizabeth has placed the property on the market for sale, in an offering by JLL’s New Jersey capital markets team.

Health Care & Education

Historic Newark church sold for $2.5 million, slated to become charter school

A charter school has purchased a historic church building and two adjoining structures in Newark for $2.5 million, in a deal arranged by Coldwell Banker Realty.

The best of The Briefing 2022

We’re always excited to look ahead to a new year in New Jersey commercial real estate. First, however, please join us in looking back at our top stories of the year, including our most-read items and a few editor’s picks. Happy New Year and best of luck!

Government & Public Policy

State completes sale of 36-acre Fort Monmouth parcel slated for RWJBarnabas campus

The state has completed its sale of a 36-acre parcel at Fort Monmouth — the onetime home of a Cold War-era research complex — where plans call for a long-awaited, sprawling health care campus to be operated by Monmouth Medical Center.

Deals

Gloucester Twp. sells ex-elementary school building, WCRE says

A school district in Camden County has sold a former elementary school building near Route 42, in a recent transaction by Wolf Commercial Real Estate.