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.

Health Care & Education
Murphy, industry leaders break ground on 550,000 sq. ft. research campus in New Brunswick

Construction is set to begin on a two-building, 555,000-square-foot research complex in New Brunswick, the future home of the state’s flagship medical school and a place where startups can work side by side with New Jersey’s top health care and academic institutions.

Finance & Capital Markets
JLL inks $30 million loan for buyers of Giralda Farms office building

A joint venture has landed nearly $30 million in financing for its recent purchase of an office building in Madison’s acclaimed Giralda Farm campus, according to brokers with JLL.

Professional Services
NAI Hanson adds to research, brokerage teams with newest hires

NAI James E. Hanson has announced three new hires aimed at bolstering its research and brokerage teams.

Office
Pharmaceutical firm takes 7,300 sq. ft. in Bedminster, eyes expansion in U.S.

A global pharmaceutical company is expanding in the U.S. with a newly completed, 7,300-square-foot lease at a Bedminster office building, in a newly announced deal by Colliers.

Office
Birch Group, financial firm ink 20,000 sq. ft. office lease in Short Hills

A financial services firm has leased nearly 20,000 square feet of office space in Short Hills, becoming the latest tenant at a recently sold and soon-to-be upgraded cluster of buildings.

Health Care & Education
Thor Equities, RWJBarnabas sign first lease at new-look Jersey City building

Thor Equities Group has inked its first deal at a repurposed life sciences building in Jersey City, securing an 11,000-square-foot lease with the state’s largest hospital network.

Office
Fidelco set to revive Newark office tower, in firm’s latest project in downtown neighborhood

Fidelco Realty Group is revitalizing a well-known office tower in downtown Newark at a cost of more than $30 million, with plans that include a sweeping physical upgrade, the addition of a new bar and restaurant and the creation of flexible workspace to serve technology startups. — All renderings courtesy: Fidelco/Perkins Eastman

Office
Chilmark: Engineering firm leases 29,000 sq. ft. in Parsippany

An engineering firm has taken nearly 29,000 square feet of office space in Parsippany, in a newly announced deal by Chilmark Real Estate Services.

Industrial
Rockaway commercial building trades for $3.9 million, Charity Realty says

A commercial building in Morris County has changed hands for the first time in 30 years, according to a brokerage team with Charity Realty International.

Top News
CBRE: Pipeline for office conversions on the rise in New Jersey, exceeding 8.6 million sq. ft.

Developers are on track to remove nearly 9 million square feet of obsolete office space in New Jersey, as they repurpose the sites with in-demand uses such as industrial and apartments.