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
Tech developer recommits to Bridgewater office park, SJP says

Qualcomm Inc. has renewed its lease for 125,472 square feet at Somerset Corporate Center, SJP Properties’ master-planned office complex in Bridgewater, the landlord said Tuesday.

Office
Garibaldi marketing 310K sq. ft. sublease in Bridgewater

The Garibaldi Group has been tapped to sublease an eight-story, 310,000-square-foot office building in Bridgewater, part of the Class A campus known as Somerset Corporate Center.

Health Care & Education
Prism prepares for ‘next chapter’ of iconic Roche campus

An affiliate of Prism Capital Partners has closed on its purchase of the former Hoffman-La Roche campus in Nutley and Clifton, clearing the way for the developer to recreate the 116-acre site with a mix of new commercial tenants, retailers and residential development.

Office
PSEG headquarters tower in Newark sells for $174.5M

A real estate investment trust has sold the Public Service Enterprise Group headquarters tower in Newark for nearly $175 million, according to the seller and brokers involved in the deal.

Office
N.J. office market mounts a comeback in Q3, JLL finds

After a sleepy first half of the year, New Jersey’s office market woke up in the third quarter. And it did so in a big way — thanks to a flurry of high-profile leases that reached the finish line.

Finance & Capital Markets
Essex County office park offers reuse potential, HFF says

A four-building, 403,379-square-foot office park has hit the market in West Orange.

Office
What makes N.J. attractive to growing companies?

A panel discussion hosted by NAIOP New Jersey focused on why and how “next-generation” companies are able to grow in the Garden State — and how the commercial real estate industry can support them in their growth.

Residential & Mixed Use
Russo details mixed-use plans for iconic Hess property

The landmark Hess tower in Woodbridge may be getting some company in the years ahead. That’s according to a plan laid out Wednesday by developer Ed Russo, whose firm is part of a joint venture that aims to acquire and transform some 30 acres around the iconic building. He said the Carlstadt-based firm and its partner, Onyx Equities, intend to build a mixed-use community with roughly 600 residential units and 40,000 square feet of retail space.

Finance & Capital Markets
Value-add group acquires Mack-Cali building in Bergen County

Mack-Cali Realty Corp. has sold a 208,000-square-foot office building in Upper Saddle River, in a $19.7 million sale brokered by CBRE.

Office
Digital media firm relocates within Hasbrouck Heights

G3 Communications has leased 6,400 square feet Heights Plaza, a 200,000-square-foot office building owned by Alfred Sanzari Enterprises in Hasbrouck Heights.