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.

Space and pace

You may have heard by now about the rush for life sciences space in the wake of last year’s COVID-19 outbreak, which could still continue even after the virus is under control. New Jersey, of course, should stand to benefit with a deep pool of intellectual talent that rose to the occasion in the nation’s fight against the pandemic. That’s the good news, but tapping into that demand remains somewhat complicated.

Mack-Cali sells 946,000 sq. ft. Metropark office portfolio for $254 million

Mack-Cali Realty Corp. has sold four office buildings in the Metropark submarket for $254 million, as it sheds another key piece of its once-sprawling suburban portfolio.

Cresa New Jersey announces new principals among latest additions

Tenant advisory firm Cresa has made four additions to its New Jersey brokerage team.

Institutional buyers, able to see past short-term uncertainty, still finding value in New Jersey

After treading lightly for much of the past year, institutional investors appear poised to accelerate their commercial real estate spending in 2021. New Jersey and other suburban markets could benefit in the near term as buyers await the return of New York City — especially in an apartment sector that is regaining its footing after stumbling during the pandemic.

Ware Malcomb promotes interior design manager in Princeton office

Ware Malcomb has announced a promotion within its Princeton-based interior architecture and design team.

Vantage Commercial inks new 3,000 sq. ft. office lease in Burlington County

A professional services firm has leased 3,000 square feet at a Burlington County office building, under a newly announced transaction by Vantage Commercial.

C&W marketing 105,000 sq. ft. office, research building in Hunterdon for sale or lease

The owner of a former Ingersoll Rand office and research facility in Hunterdon County is seeking a buyer or a tenant for the property, according to Cushman & Wakefield.

Prism relocates headquarters ahead of pharma firm’s move to ON3 campus in Nutley

Prism Capital Partners has moved its headquarters within its flagship ON3 campus, making way for the global pharmaceutical firm that will occupy the site’s distinctive 15-story office tower.

Ryan Sanzari named president of Alfred Sanzari Enterprises

Alfred Sanzari Enterprises has named a new president as part of an expanded role for the company’s third-generation leader.

Developers press their case, setting sights on bill to allow third-party code inspections

A bill that would allow building owners to obtain faster code inspections using third-party, private-sector agents has moved through the Legislature in recent weeks, raising the hopes of developers and other industry stakeholders who support the proposal.