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
JLL tapped to sell 230,000 sq. ft. Bedminster campus fully leased to AT&T

The two-building, 230,000-square-foot office campus in Bedminster that serves as a key corporate hub for AT&T is on the market for sale, according to brokers with JLL.

Finance & Capital Markets
C&W: Saxum, Penwood ink $19.6 million construction loan for Parsippany warehouse project

A joint venture has scored a $19.6 million construction loan for a more than 128,000-square-foot industrial project in Parsippany, brokers with Cushman & Wakefield said Thursday.

Office
JLL seeking buyer for 42,000 sq. ft. Summit office building, touting strong value-add potential

The owner of a boutique office building in Summit has tapped JLL to sell the property, providing what the listing team says is “significant value-add potential” in a top-tier market.

Office
NJ Transit, Horizon exploring plan to redevelop Newark office sites and build new 250,000 sq. ft. headquarters for health insurer

The site of two office buildings in downtown Newark could become up to 1,000 apartments and retail space under a proposal that involves the prospect of a new ground-up, 250,000-square-foot headquarters for Horizon Blue Cross Blue Shield of New Jersey.

Office
NAIDB: Westfield office building to become swim school after $2.2 million sale

A swim school operator has acquired a 9,700-square-foot office building in Westfield for more than $2.2 million, according to a listing team with NAI DiLeo-Bram & Co.

Community
For NAIOP New Jersey, return of food bank volunteer day highlights fresh focus on community action

NAIOP New Jersey’s day of service this summer came amid its renewed focus on community action, one of six goals outlined in a four-year strategic plan unveiled earlier this year.

Sponsored Content
From boardrooms to bedrooms (and big boxes): Inside New Jersey’s office conversion boom

Empty office buildings and half-vacant corporate campuses have become a familiar sight in New Jersey. In the wake of the pandemic, and the rise of remote and hybrid work, companies are using less space and leaving behind millions of square feet of surplus offices. At the same time, there’s a pressing need for housing and modern industrial facilities. It’s no surprise then that developers in the Garden State are increasingly turning these underused offices into multifamily residences and warehouses. This white paper explores the scale and characteristics of New Jersey’s office conversion boom focusing on the transformation of offices into residential and industrial uses as well as the impact it will have on developers, investors and occupiers.

Technology
Owners of NEST campus in Kenilworth launch major update of common spaces, amenities

The team behind the high-profile Northeast Science and Technology Center in Kenilworth have kicked off a multimillion-dollar renovation of the site’s anchor building, with plans to create 75,000 square feet of new amenities and common spaces for current and future tenants.

Office
IT provider takes 7,600 sq. ft. in Pennsauken for new headquarters, Vantage Commercial says

A managed information technology provider has leased more than 7,600 square feet of office space in Pennsauken, brokers with Vantage Commercial announced Thursday.

Office
Hilton Realty buys two-building, 268,000 sq. ft. portfolio in Princeton South Corporate Center

Hilton Realty has expanded its holdings in the Princeton area after acquiring a nearly 268,000-square-foot office complex in Ewing, brokers with JLL announced Wednesday.