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.

Events
An uneven recovery? NAIOP panelists see different paths for different asset types in 2024

The state’s industrial and office sectors both faced headwinds in 2023, but the year ahead for each asset class may be decidedly different. That was a key takeaway last week from panelists at NAIOP New Jersey’s Annual Meeting and Commercial Real Estate Outlook, who noted that demand for warehouse and logistics space has normalized after a record-breaking run during the pandemic. Office landlords, meantime, are still grappling with shrinking corporate footprints and remote work policies, further straining submarkets that are both aging and oversupplied.

Office
JLL: Buyer wanted for Woodland Park office campus, potential redevelopment site

An office campus in Woodland Park is on the market for sale as a potential redevelopment opportunity spanning more than 30 acres, according to brokers with JLL.

Office
Fennelly: Three tenants combine for 7,100 sq. ft. in new deals at Hamilton office building

The owner of a 33,000-square-foot office building in Hamilton has welcomed three new tenants after a series of leases arranged by Fennelly Associates.

Office
Ridgefield office building changes hands in Cervelli-brokered deal

An end user has purchased a 4,500-square-foot office building in Ridgefield, according to a team with Cervelli Real Estate & Property Management.

Office
New Jersey office market ‘poised for better times’ after strong Q4, as flight to quality continues, reports say

A recent spike in leasing demand has boosted New Jersey’s office market to start the year, even as large blocks remain available amid corporate downsizing and concerns about the economy.

Office
JLL marketing high-end, 240,000 sq. ft. office building in Metropark after Siemens departure

The owner of a nearly 240,000-square-foot office building in Woodbridge has tapped JLL as its leasing agent, in what brokers say is a blank canvas for a corporate or life sciences user.

Professional Services
Kislak honors top brokers of 2023 at annual sales awards

The Kislak Co. Inc. has recognized three standout brokers in the residential and commercial space as part of its newly announced company sales awards.

Office
Onyx, NJM ink 53,000 sq. ft. lease for insurer’s new home in Parsippany

Onyx Equites has leased 53,000 square feet in Parsippany to NJM Insurance Group, securing another tenant for a newly renovated, five-building office campus off Route 202.

Office
Victory Home Remodeling moving to Bell Works in 43,000 sq. ft. sublease with Guardian Life

Victory Home Remodeling has taken nearly 43,000 square feet of office space at the Bell Works campus in Holmdel, in a deal arranged by Cushman & Wakefield and JLL.

Office
Fennelly: Micro-Air, growing manufacturing business, takes 19,000 sq. ft. in Hamilton

A manufacturing business is poised to expand after leasing more than 19,000 square feet of office space in Hamilton, in a newly announced transaction by Fennelly Associates.