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.

Event Coverage
United Way event features media icon Forbes, honors high-profile Warren office deal

The United Way of Northern New Jersey hosted its annual fundraiser with the commercial real estate industry, which featured an interview with media icon Steve Forbes and the presentation of its Impact Award to one of the state’s most high-profile office deals of 2019.

Editor’s Note
In spite of it all

It was a busy spring, surprisingly so, and I know many of you would agree. I’ve seen it firsthand in the lease and sale announcements that have continued to hit my inbox these last three months, with many of them offering praise to the parties involved for getting the deal done in the midst of “challenging economic times” or “uncertain market conditions.” I know full well that much of the industry is still hurting. We won’t lose sight of that. But we will take the opportunity to highlight some of the positive things that are happening in spite of the pandemic.

Finance & Capital Markets
Princeton office building owner lands $20 million refi, C&W says

The owner of a Princeton-area office building is refinancing the property for nearly $20 million, under a transaction arranged by brokers with Cushman & Wakefield.

Health Care & Education
JLL: Biologics firm takes 68,000 sq. ft. at Cranbury manufacturing facility

A pharmaceutical company has signed a full-building, 68,000-square-foot lease at a clinical manufacturing facility in Cranbury, brokers with JLL announced Friday.

Office
Private equity firm adds Mount Laurel complex for $15 million

An investment group has acquired a seven-building, 244,000-square-foot office and flex portfolio in Mount Laurel, under a newly announced transaction by CBRE.

Office
Bergman details guidelines, building upgrades for returning office tenants

Bergman Real Estate Group has unveiled its plans for helping tenants return safely and confidently to its portfolio of office space across New Jersey.

Office
Investor acquires 40,000 sq. ft. office and retail center in Parsippany

A private investor has sold a mixed-use commercial property in Parsippany for nearly $4.4 million, under a newly announced transaction by The Kislak Co. Inc.

Health Care & Education
Developers weigh new lab, research projects as New Jersey market continues to tighten

After decades of consolidation by Big Pharma, demand for modern lab and diagnostic space in New Jersey is on the rise, fueling rent growth and pushing some developers to consider new laboratory projects.

Policy Page
Workplace absence leads to decline in office demand

Much of the workforce has been absent from offices/workplaces and transportation systems since mid-March. Has this absence “made hearts grow fonder” to return? Not entirely, according to some experts.

Office
Larken: NYC marketing firm takes temp space at Princeton-area office park

A New York City-based marketing and consulting firm has found temporary office space just outside Princeton, where it has leased 800 square feet in a transaction with Larken Associates.