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
Investment firm taps JLL to market Parsippany office complex

The new owner of Morris Corporate Center III is set to rebrand the property, having hired JLL to market and lease the 541,000-square-foot office complex.

Editor’s Note
Coming soon: Industry Roundups from Real Estate NJ

In the days and weeks ahead, we will introduce a new addition to Real Estate NJ aimed at zeroing in on the major asset classes and service sectors in the Garden State. Known as Industry Roundups, the new e-blasts will highlight the top headlines and stories in each field, giving you a chance to catch up on all the latest news in a way that’s tailored to a specific part of the industry.

Office
NKF: Newark, suburban downtowns show strength in 2017 amid struggling office market

Despite suffering the largest occupancy losses in nearly a decade, the northern New Jersey office market emerged from 2017 with reasons to be optimistic.

Office
Prism announces management, operations team at ON3 campus

Prism Capital Partners has assembled a team to oversee its new ON3 campus in Nutley and Clifton, including three former Hoffmann-La Roche employees who worked at the site for a combined 90 years.

Health Care & Education
Weiss: New tenants lease 16,000 sq. ft. at Union City medical building

Two medical practices have signed leases totaling 16,025 square feet at a Union City office building, in a set of transactions brokered by Weiss Realty.

Office
KBS touts 84,400 sq. ft. in leasing at Woodbridge office park

Three new leases and a renewal have contributed to more than 84,000 square feet of activity at a six-building office campus in Woodbridge, landlord KBS Realty Advisors announced.

Office
Global IT firm in talks to buy Merck campus in Readington, reports say

After being on the market for several years, the sprawling Merck & Co. campus in Hunterdon County may soon have a new owner.

Government & Public Policy
Ex-CRDA official tapped for Newark economic development post

The former head of the state Casino Reinvestment Development Authority is joining Newark City Hall, where he will serve in a newly created position tied to economic development.

Office
Upgrades coming to Woodcliff Lake office building (UPDATED)

An investor is launching a multimillion-dollar renovation of a Bergen County office building, following its recent purchase of the property from Mack-Cali Realty Corp.

Residential & Mixed Use
Denholtz, a leader in value-add commercial projects, also returning to residential

Now in its 65th year in business, Denholtz Associates has continued its longtime focus on value-add office and industrial projects. But it’s also marking a return to its roots, with a pipeline that includes new residential construction for the first time in decades.