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.

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.

Office
Onyx, DRA tap NKF as leasing agent at 500,000 sq. ft. office campus in Paramus

Onyx Equities and DRA Advisors have picked Newmark Knight Frank as their leasing agent for a newly repositioned, two-building office campus in Paramus.

Office
Mack-Cali agrees to sell Parsippany, Madison portfolio for $289 million

Mack-Cali Realty Corp. has agreed to sell 2.4 million square feet of office space in Parsippany and Madison to a joint venture led by Onyx Equities LLC, in a $288.5 million deal that sets up a plan to shed its entire suburban office portfolio.

Office
Columbia, BNY subsidiary ink 400,000 sq. ft. renewal in Jersey City

The Bank of New York Mellon is staying in place on the Jersey City waterfront, where it has signed a roughly 400,000-square-foot renewal with Columbia Property Trust Inc.

Office
West Orange medical office building fetches $9.5 million, Newmark says

A buyer has paid $9.5 million for a 50,400-square-foot medical and professional office building in West Orange, with plans to bring a surgery center to a portion of the property.

Health Care & Education
Embroidery, screen printing business buys vacant Phillipsburg school building

The Phillipsburg Board of Education has sold a vacant 8,500-square-foot school building in the Warren County town, under a newly completed transaction by NAI James E. Hanson.

Finance & Capital Markets
Square Mile, Meridian tout $200 million refi for iconic Bell Works project

The owners of the landmark Bell Works complex in Holmdel have secured a $200 million loan to refinance the mixed-use, 1.4 million-square-foot property.