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.

Current Issue
Owners Council Q&A: Lance Bergstein

The macro environment had an exponential effect on the commercial real estate market. The impact of increased inflation and borrowing rates magnified some of the underlying fundamentals in the New Jersey market. With that said, the industrial market in the state remained strong in comparison to the rest of the country. The scarcity of developable land in prime locations for logistics prevented rental rate cuts from becoming prevalent in the overall market. There is strong tenant demand, however, corporate spending approvals have been the barrier. As spending approvals become more attainable, there will not be enough chairs (buildings) left for tenants when the music stops. I continue to believe that New Jersey is underserved from an industrial and housing perspective and am very bullish on the activity our market will see in the next 18 months.

Office
Zimmel moves headquarters after 27 years, taking new space in Edison’s Raritan Center

Zimmel Associates has found a new home in Edison’s Raritan Center after moving its headquarters for the first time in more than 25 years.

Office
International metals company signs 4,800 sq. ft. renewal at Sanzari’s Glenpointe campus

Alfred Sanzari Enterprises has signed a lease renewal at Glenpointe in Teaneck with a business in the precious metals industry, the landlord announced Wednesday.

Office
JLL: Princeton University acquires 158,000 sq. ft. West Windsor office building for $33 million

Princeton University has gone from tenant to landlord in West Windsor after acquiring a more than 158,000-square-foot office building off Route 1, in a newly announced deal by JLL.

Office
Onyx leases 25,000 sq. ft. to Einhorn Barbarito in latest deal at ‘The Arbors’ in Parsippany

Onyx Equities has lured another tenant to a revitalized office campus in Parsippany, having leased nearly 25,000 square feet to a locally based law firm.

Food & Beverage
Mabel, coastal European-themed eatery, opens as Bell Works’ first full-service restaurant

The first full-service restaurant at Bell Works has opened its doors at the 2 million-square-foot property, bringing another amenity to its many tenants and residents in and around Holmdel.

Top News
Revlon takes 62,000 sq. ft. for R&D hub at Onyx-led NEST campus in Kenilworth

Revlon is heading to Onyx Equities’ Northeast Science and Technology Center in Kenilworth, where it will lease 62,000 square feet for its New Jersey-based research and development hub.

Office
Accordia buys Warren medical office campus for second time, eyeing major upgrades

Accordia has reacquired a medical office campus in Warren that it sold nearly a decade ago, with plans to complete a major update of the 57,000-square-foot property off Interstate 78.

Health Care & Education
Veterinary group takes 5,300 sq. ft. at historic Montclair building, Sheldon Gross says

A veterinary practice has leased around 5,250 square feet within a former American Red Cross location in Montclair, brokers with Sheldon Gross Realty announced Tuesday.

Office
R+B: Work meets culture at new MTL office in Roseland, where accounting firm’s extensive art collection is on full display (SLIDESHOW)

Accounting firm Meisel, Tuteur & Lewis PC has opened the doors to its new 22,000-square-foot headquarters in Roseland, in a project designed by architects with Rotwein+Blake.