Office

New Jersey’s office market is evolving by the day, but this fact remains: The state’s location and educated workforce make it a highly desirable place for tenants of all shapes and sizes.

Office
Reports: Demand for New Jersey office space grows in 2022, despite economic headwinds

Office leasing in New Jersey rebounded in 2022, showing notable improvement from a year earlier despite a mixed fourth quarter and ongoing economic uncertainty.

Deals
Marcus inks $46 million sale of 310,000 sq. ft. retail, office portfolio in Ocean County

A real estate firm has acquired 10 retail and medical office properties in Ocean County for $46 million, expanding its footprint in the region by more than 300,000 square feet.

Office
Sanzari signs 6,400 sq. ft. renewal at Glenpointe with laser eye surgery practice

A laser eye surgery practice has renewed its nearly 6,500-square-foot lease at Alfred Sanzari Enterprises’ Glenpointe office campus in Teaneck, the landlord announced Thursday.

Deals
KenKap: Route 46 office, restaurant properties in Parsippany trade for $4.2 million

A local investor has purchased the site of an office building and an adjacent restaurant property in Parsippany for $4.2 million, in a transaction arranged by KenKap Realty Corp.

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.

Office
Metal supplier inks 7,000 sq. ft. office lease in Somerville, Deluccia says

A global supplier of ores, metals and alloys has taken more than 7,000 square feet at an office building in downtown Somerville, according to the Deluccia Commercial Group.

Office
Newmark inks new leases, renewal at Bloomfield office park totaling 40,000 sq. ft.

A maker of high-end fitness equipment has leased more than 15,000 square feet of office space in Bloomfield, in one of several newly announced deals by Newmark.

Professional Services
NAI Fennelly rebrands as Fennelly Associates

NAI Fennelly, the longtime commercial real estate services firm based in Hamilton, has announced its rebrand to Fennelly Associates.

Top News
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!

Office
JLL: Parsippany office building sells for $88 million, in latest trade of 400,000 sq. ft. property

Signature Acquisitions has added to its suburban office portfolio in New Jersey with its purchase of a well-known, 400,000-square-foot property in Parsippany for $88 million.