State Senate President Steve Sweeney last week came to the defense of New Jersey’s use of tax incentives — a recent target of Gov. Phil Murphy’s administration — while pledging to find a solution to extend and update the programs by the time they sunset on June 30.
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.
CBRE completes sale of Toys R Us headquarters campus in Wayne
The owners of the defunct Toys R Us chain have sold the retailer’s former 621,000-square-foot corporate headquarters in Wayne, brokers with CBRE announced.
Ex-NFL receiver, Amboy Bank ink $51 million loan for Bordentown development
Amboy Bank has closed on some $51 million in financing to help a former NFL player develop more than 400,000 square feet of retail and medical office space in Bordentown.
Mertz announces promotions of two longtime office brokers
NAI Mertz has promoted two longtime industry leaders and brokers within its office division.
Repositioned Parsippany office building fetches $66 million
A buyer has paid $66 million to acquire a 400,127-square-foot office building in Parsippany, the site of a well-known effort to renovate and transition the property to a multitenant asset.
Camden office tower developers unveil plans for new restaurants
Two restaurants are coming to the high-profile, waterfront office tower in Camden that will become the headquarters of three influential South Jersey companies.
EDA aims to lure grocery co-op from Staten Island, keep food service firm in Paterson
The state is hoping to coax a supermarket co-op to move its offices from Staten Island to Old Bridge as part of a recently approved tax credit incentive, as it moves to keep another food-related company from moving jobs out of New Jersey.
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building
A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.
Garibaldi adds first-ever managing broker as part of historic rebrand
The Garibaldi Group has hired a veteran broker and consultant who will play a key role in the firm’s efforts to revamp and expand its real estate services platform.
Colliers inks lease, subsequent sale of Camden County medical office building
A medical office building in Camden County has changed hands after inking a lease with an area health system, in a series of transactions completed by Colliers International.
