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.

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What’s in store for New Jersey’s commercial real estate market in 2022?

Over the course of the pandemic, commercial real estate has experienced notable highs and lows. The current market has rebounded vigorously and now exceeds pre-pandemic levels. To learn what’s in store in 2022, we sat down with Cushman & Wakefield’s powerhouse New Jersey Capital Markets team. Founded by Andy Merin in 1987, the team has been involved in more than $34 billion in property sales throughout its tenure.

Office
Saxum sells repositioned office, retail building in Montclair for $18 million, Marcus says

An investor has purchased a newly renovated office and retail building in downtown Montclair for $18 million, brokers with Marcus & Millichap announced Tuesday.

Office
Leica Camera to move North American HQ to Sanzari’s Glenpointe campus

Leica Camera Inc. has signed a long-term lease to bring its North American headquarters to Glenpointe, Alfred Sanzari Enterprises’ flagship business campus in Teaneck.

Professional Services
Veteran broker Schubert joins Lee & Associates New Jersey as partner

Lee & Associates New Jersey has announced the addition of longtime office broker Geoffrey Schubert, adding a 54-year industry veteran to its Elmwood Park-based team.

Office
Silverman Group sells 133,000 sq. ft. Florham Park office campus for $25 million, CBRE says

The Silverman Group has sold a two-building office complex in Florham Park, fetching $24.5 million for the nearly 133,000-square-foot property.

Health Care & Education
Freehold medical office building trades for $8.2 million

A real estate investment trust has purchased a medical office building in Freehold for $8.2 million, according to a brokerage team with Physician Real Estate Capital Advisors.

Events
United Way honors Turner’s Romanski alongside Valley Bank lease, Bridge Point 78

The United Way of Northern New Jersey hosted its first in-person Commercial Real Estate Network Legacy Event since 2019, drawing a crowd of 400 while raising more than $365,000 in support of asset-limited, income-constrained, employed individuals.

Residential & Mixed Use
Kushner set to begin 307-unit senior housing building, in reuse of Fair Lawn office parcel

More than 300 new apartments are coming to the Bergen County borough of Fair Lawn, where Kushner is redeveloping the site of a vacant office building near Route 208.

Office
Colliers moves Parsippany office, inks lease at new-look Northpoint property

Colliers has found a new home for its Parsippany-based team, leasing 7,500 square feet at a newly updated building owned by Vision Real Estate Partners.

Office
Gilead leases 96,000 sq. ft., eyes new corporate hub at Parsippany’s ‘Latitude’ campus

Biopharmaceutical giant Gilead Sciences has leased nearly 100,000 square feet at a Parsippany office campus, with plans to open a highly anticipated East Coast hub by early next year.