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.

Professional Services

NAI Fennelly rebrands as Fennelly Associates

NAI Fennelly, the longtime commercial real estate services firm based in Hamilton, has announced its rebrand to Fennelly Associates.

The best of The Briefing 2022

We’re always excited to look ahead to a new year in New Jersey commercial real estate. First, however, please join us in looking back at our top stories of the year, including our most-read items and a few editor’s picks. Happy New Year and best of luck!

Office

JLL: Parsippany office building sells for $88 million, in latest trade of 400,000 sq. ft. property

Signature Acquisitions has added to its suburban office portfolio in New Jersey with its purchase of a well-known, 400,000-square-foot property in Parsippany for $88 million.

NAIDB: New Jersey CRE market shows strength across property types, despite headwinds

Commercial real estate in New Jersey continues to draw investors and tenants at a robust pace, despite economic uncertainty, with even less-heralded asset classes such as office and retail showing signs of health in recent months.

Office

WCRE: Conrail takes 32,000 sq. ft. at Mount Laurel office building

Conrail has leased more than 32,000 square feet at a recently updated office building in Mount Laurel, according to a brokerage team with Wolf Commercial Real Estate.

Deals

CPN: Plumbing, heating business buys Princeton building for new headquarters

A local plumbing and heating business has purchased a 5,000-square-foot building in Princeton, securing a space that will become the company’s home starting in 2023.

Office

PNC inks 26,000 sq. ft. office lease at Overlook Corporate Center, JLL says

PNC Bank has taken more than 26,000 square feet at Overlook Corporate Center in Little Falls, in one of two newly announced leases at the property by JLL.

Editor’s Note

Sustained success

As you’ll read in this month’s cover story, the state’s Community Solar Energy Pilot Program has made it both easier and more lucrative for commercial property owners in New Jersey to go green, allowing solar developers to lease their rooftops and sell power to nearby residents. The policy has been critical to the growth of Solar Landscape, a solar developer founded in 2012 that’s been integral to the program’s rollout. Based in Asbury Park, the 10-year-old firm has leased more than 20 million square feet of rooftop space in New Jersey, making it a key player in the commercial real estate market in just a few years.

Professional Services

Cushman details 17 new hires on New Jersey capital markets, leasing and operations teams

Cushman & Wakefield has announced a flurry of new hires aimed at bringing young talent to its capital markets, leasing and operations teams in New Jersey.