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.

Government & Public Policy
EDA approves $14.7 million incentive for proposed Gucci call center in Jersey City

The state has approved a 10-year, $14.7 million tax credit to encourage luxury fashion giant Gucci to open a new 52,000-square-foot call center on the Jersey City waterfront.

Residential & Mixed Use
Developers kick off $135 million theater district project in Montclair

Ironstate Development Co. and Brookfield have broken ground on a long-awaited, $135 million project in downtown Montclair that will deliver 200 apartments and a mix of artist and commercial space alongside the historic Wellmont Theater.

Office
SJP rebrands Jersey City office building, targets science and tech users

SJP Properties has rebranded an office building in downtown Jersey City with an eye toward emerging and specialized industries, tapping JLL as the property’s leasing agent.

Office
CBRE inks sale of 110,000 sq. ft. Princeton office complex to KABR

The KABR Group has acquired a two-building, 110,000-square-foot office complex in Princeton, CBRE announced, touting the buyer’s plans to reposition the property.

Finance & Capital Markets
Investors Bank touts $219 million in new commercial, multifamily loans

Investors Bank has inked a $36 million loan for a 144,000-square-foot warehouse in Elizabeth, the largest among 10 recent closings announced by the lender.

Professional Services
NAI Hanson hires new associate in Parsippany

NAI James E. Hanson has added to the sales team in its Parsippany office.

Office
Newmark inks 12,500 sq. ft. lease at creative office building in Union City

A marketing firm has leased 12,500 square feet at a creative professional building in Union City, brokers with Newmark Associates announced last week.

Office
CBRE: Shrinking deal size fuels ‘persistent softness’ in N.J. office market

Smaller deals are increasingly driving New Jersey’s officemarket, a new report finds, raising the prospect of unchanged overall vacancyand flat rents in the near term despite an otherwise healthy economy.

Professional Services
LAN Associates extends, plans renovation at Midland Park headquarters

LAN Associates has recommitted to its longtime home in Midland Park, while detailing plans to renovate the 20,000-square-foot space over the next year.

Professional Services
NAI Mertz adds two sales associates to Mount Laurel team

NAI Mertz has expanded the brokerage team at its Mount Laurel headquarters with two recent hires, the real estate services firm announced.