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
Avon sells longtime R&D center in Suffern, New York to Regeneron, C&W says

Regeneron Pharmaceuticals has acquired Avon’s longtime research and development hub in Suffern, New York, a 235,000-square-foot facility less than a mile from the New Jersey border.

Office
Veris under contract to sell Harborside 5, its final office building, for $85 million

Veris Residential Inc. is on the verge of shedding its one remaining office building, a nearly 1 million-square-foot tower in Jersey City that is under contract to sell for $85 million.

Health Care & Education
Landmark Healthcare taps Lee & Associates to lease Elizabeth, Pemberton buildings

The owner of a two-building medical office portfolio in Union and Burlington counties has tapped Lee & Associates New Jersey as its leasing agent for the properties.

Sponsored Content
How to survive the commercial real estate industry in 2024

All of the industry conferences and panels I’ve attended over the last several months have one thing in common — in each, someone has uttered the phrase “Survive to ’25” or the Bee Gees variant “Stayin’ alive till ’25,” either seriously or perfunctorily, as nearly everyone in the commercial real estate market knows that 2024 is going to be a rocky year. Why? Each of the players in the venerable trifecta of tenant, landlord and lender is having problems of their own.

Office
Sanzari, fencing solutions firm ink 4,000 sq. ft. office lease in Elmwood Park

Alfred Sanzari Enterprises has welcomed a fencing solutions company to Elmwood Park Plaza, a 68,000-square-foot office building in the Bergen County borough.

Finance & Capital Markets
Vision, Birch Group refi 228,000 sq. ft. Florham Park office building

Vision Properties and The Birch Group have closed on a long-term refinance of a 228,000-square-foot office building in Florham Park, brokers with Cushman & Wakefield announced.

Health Care & Education
Onyx taps Outshine Properties as leasing, asset management partner as renovations begin at NEST life sciences campus in Kenilworth

Onyx Equities is set to begin renovations at the 2 million-square-foot former Merck & Co. campus in Kenilworth, having teamed with a known life sciences developer to spearhead its plan to upgrade and bring new tenants to the property.

Office
Boniakowski: Contractor moves from Elizabeth after buying Springfield office building

A construction firm has acquired a 10,000-square-foot office building in Springfield, in a newly announced deal by The Boniakowski Commercial Real Estate Group.

Government & Public Policy
EDA approves $25 million in grants for Newark, Atlantic City commercial corridors

State officials are sending more than $25 million in grant funds to support 13 businesses and commercial projects in the downtowns of Newark and Atlantic City.

Cover Story
Downtown demand: Developer aims to bring highly coveted, high-end office space to Montclair business district

BDP Holdings has unveiled plans to bring new high-end office space to Montclair as part of a 130,000-square-foot ground-up project, seeking to capture the growing demand for space in downtowns that are easily accessed by the state’s skilled suburban labor pool.