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
Rutgers buys 3,700 sq. ft. office building in downtown Newark, NAI Hanson says

Rutgers University has acquired a 3,700-square-foot office building in downtown Newark, under a newly announced transaction by NAI James E. Hanson.

Government & Public Policy
Insiders see growing (but measured) demand for new, more targeted state incentive program

With the recent approval of the first awards under Emerge, the state’s new jobs-based tax incentive program, officials and other insiders expect to see a measured pace of applications for a subsidy that was designed to be more discerning and targeted than its predecessor.

People
Casiello joins ACDevco board of directors

A local resident and well-known commercial real estate professional has joined the board of ACDevco, the nonprofit developer focused on key projects in Atlantic City.

Government & Public Policy
Developer plans 75 apartments, entertainment space at historic Fort Monmouth complex

A developer has purchased 20 acres at Fort Monmouth, with plans to convert a series of historic buildings to create 75 apartments and new commercial and entertainment space.

Health Care & Education
C&W inks $3.6 million sale of Englewood medical office building

A private investor has acquired a nearly 16,000-square-foot medical office building in Englewood, under a newly announced deal by Cushman & Wakefield.

Office
South Korean airline taking 2,500 sq. ft. at Sanzari-owned campus in Teaneck

Alfred Sanzari Enterprises has attracted a new tenant to its Glenpointe campus in Teaneck, securing a lease for more than 2,500 square feet with a South Korean airline.

Office
Report: Amazon, Mack-Cali nearing 400,000 sq. ft. office lease in Jersey City

Amazon and Mack-Cali Realty Corp. are reportedly close to inking a 400,000-square-foot office lease in Jersey City, in a potential blockbuster deal for the real estate investment trust and its flagship Harborside complex along the Hudson waterfront.

Policy Page
Third-party inspectors would solve shrinkage of public employees

As of this writing, legislation to facilitate the timely review and inspection of construction activities, which have been on the rebound now that the worst of the pandemic is behind us, is awaiting Gov. Phil Murphy’s signature. We need the third-party option because the number of public-sector inspectors has substantially diminished over the last 10 years and will continue to do so.

Residential & Mixed Use
CBRE: AvalonBay eyes 301-unit multifamily project in Princeton after deal with KABR

100 and 101 Thanet Circle in Princeton — Courtesy: CBRE By Joshua Burd A developer has acquired a two-building, 110,000-square-foot office complex in Princeton with plans to repurpose the site into more than 300 apartments, brokers with CBRE announced. The…

Office
Opal, Avison Young detail start of upgrades at 425,000 sq. ft. Metropark office building

A landlord has kicked off a renovation of a well-known office building in Woodbridge, having tapped Avison Young to spearhead the multimillion-dollar project.