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.

Deals
Family estate sells 47,000 sq. ft. portfolio near Union train station, BRC says

A family estate has sold a 47,000-square-foot commercial portfolio in Union Township, in a newly announced transaction by Bussel Realty Corp.

Office
JDA taps Newmark as office leasing team for Hoboken, Jersey City project

The developer of a planned mixed-use project on the border of Hoboken and Jersey City has tapped Newmark as its leasing team for more than 100,000 square of new office space.

Policy Page
CRE.Converge takeaways: Connectivity, technology and flexibility yield resilience

Over 1,000 of commercial real estate’s top owners, developers, investors and allied professionals gathered in Miami Beach last month for NAIOP’s CRE.Converge event to hear insightful discussions with industry thought leaders.

Finance & Capital Markets
G.S. Wilcox sources $44 million loan for Pennsylvania medical office building

The owner of a 70,000-square-foot medical office building in Eastern Pennsylvania has secured $44 million in financing, in a deal arranged by G.S. Wilcox & Co.

Office
Larken breaks ground on 19,000 sq. ft. office building in Branchburg

Larken Associates has broken ground on a new boutique office building in Branchburg, in what will mark the expansion of an existing property that the real estate firm purchased in 2017.

Health Care & Education
Colliers: Private equity firm adds 30,000 sq. ft. medical office building in Edison

A private equity firm has purchased a 30,000-square-foot medical office building in Edison, under a newly completed transaction by Colliers International.

Editor’s Note
Starting anew

The debate over New Jersey’s corporate incentive programs has been well-chronicled in recent years, but regardless of where you fall on the issue, there’s no denying their influence on the state’s commercial real estate market. That influence was all but gone for two years after Grow New Jersey and other subsidy programs were allowed to expire in summer 2019, with no immediate replacements in sight until Gov. Phil Murphy and lawmakers agreed on new incentives late last year. The state is now putting those offerings to work, starting with the jobs-based Emerge program that will fill the void left by Grow New Jersey.

Office
Fennelly: Nexus sells Ewing medical office building after more than 50 years

The longtime owner of a 27,000-square-foot medical office building in Ewing has sold the property for $1.8 million, according to brokerage firm NAI Fennelly.

Office
Bell Works completes lease-up of 100,000 sq. ft. prebuilt office space component

Somerset Development is touting the lease-up of more than 100,000 square feet of prebuilt, flexible office space at its flagship Bell Works campus in Holmdel.

People
Sanzari taps Fuller as new chief operating officer

Alfred Sanzari Enterprises has named a new chief operating officer after promoting a longtime industry executive who joined its ranks in 2019.