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.

The Rundown
Jared Kushner to step down as CEO of Kushner Cos., report says

Jared Kushner is preparing to step down as CEO of the Kushner Cos. ahead of an expected role in the White House of his father-in-law, President-elect Donald Trump, The New York Times reported.

Office
C&W brokers $20M sale of Lyndhurst office building

The owner of a Lyndhurst office building has sold it for $20 million, following its acquisition of the property in 2013 and an effort to bring it to nearly full occupancy.

Residential & Mixed Use
Syndication group finds first deals in Essex, Bergen counties

The newly formed syndication arm of an area real estate firm has made its first two deals, closing on vacant office buildings in Newark and Hackensack that it now plans to reposition.

Office
NGKF: Northern, central N.J. office market slowed in Q4

The state’s office market took a step back in the fourth quarter of 2016, according to new industry research, as leasing activity slowed and several large blocks of space hit the market.

Office
Biotech inks new lease at Advance’s Bridgewater campus

A biotechnology firm has expanded its footprint at the New Jersey Center of Excellence, Advance Realty’s sprawling commercial and soon-to-be mixed-use campus in Bridgewater.

Office
CBRE brokers $4.1M sale in downtown Newark

An investor has paid $4.1 million to acquire a 30,000-square-foot commercial building in downtown Newark, brokers with CBRE Group announced Tuesday.

Professional Services
DMR completes design, build-out of construction firm’s HQ

A construction company is now occupying its new 30,000-square-foot headquarters space in Secaucus, following a design and build-out overseen by DMR Architects.

Office
Livingston office park recapitalized in C&W-brokered deal

The owner of a 385,000-square-foot office complex in Livingston has a new partner at the property after a recapitalization arranged by Cushman & Wakefield, the brokerage said.

Office
Normandy sells Zoetis HQ building in Parsippany for $44M

A group led by Normandy Real Estate Partners has sold a Parsippany office building for $44 million, following a gut rehabilitation project that attracted a blue-chip pharmaceutical tenant.

Finance & Capital Markets
CBRE arranges $107M loan for buyer of Panasonic tower

A New York-based commercial mortgage lender was the main source of financing for a Kuwait-based firm’s recent $165 million acquisition of the Newark office tower that is home to Panasonic Corp. of North America.