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.

Finance & Capital Markets
Progress sources $85 million loan for Bronx historic rehab project

The owners of a refurbished historic warehouse building in the Bronx have refinanced the property for $85 million, under a newly announced transaction by Progress Capital.

Industrial
AY: Prologis, visual communications firm renew 107,000 sq. ft. lease in Carlstadt

Prologis Inc. and a visual communications firm have renewed and extended a nearly 107,000-square-foot lease in Carlstadt, under a newly announced transaction by Avison Young.

Retail
Bed Bath & Beyond completes $250 million sale-leaseback that includes stores, industrial space

Bed Bath & Beyond Inc. has completed a $250 million sale-leaseback agreement spanning more than 2 million square feet of commercial space, in a step aimed at stabilizing the finances of the Union-based retailer.

Professional Services
Lee & Associates expands, adds Morris County-based broker

Lee & Associates has added a veteran broker to its New Jersey team, with an eye toward gaining a greater foothold in Morris and Essex counties.

Office
CPN inks sale of Lawrenceville office building, one of three new Mercer County deals

The owner of a medicine and spa facility has acquired a 9,500-square-foot office building in Lawrenceville, in one of three recent transactions by Commercial Property Network.

Health Care & Education
Rose Commercial inks sale of 7,100 sq. ft. medical office building in Burlington Co.

An investment group has acquired a medical office building in Burlington County for nearly $900,000, in a newly completed transaction by Rose Commercial Real Estate.

Office
NKF: Parsippany, Park Ridge land top Q4 leases amid steady improvement in office market

Office tenants continued their flight to new and improved spaces as 2019 came to a close, furthering the case for landlords to upgrade or redevelop New Jersey’s aging stock of buildings.

Government & Public Policy
Office space analytics startup opens at Kearny Point, with EDA support

A technology startup has opened offices at the sprawling Kearny Point complex after being approved for a rent subsidy program by the state Economic Development Authority.

Office
Chilmark inks 5,000 sq. ft. law firm lease in Morristown

A law firm has leased nearly 5,000 square feet in Morristown, in one of several recently completed transactions by Chilmark Real Estate Services LLC.

Policy Page
Giving yields the greatest ROI

Times are good now for the commercial and industrial real estate industry, and those professionals that comprise NAIOP are an integral component in successful economic development projects. These same industry professionals also are doing great things for our fellow New Jerseyans.