After 35 years of ownership, Paul V. Profeta & Associates Inc. has sold an 80,000-square-foot office building in downtown Philadelphia for $28.75 million.
Market Sectors
New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.
Remediation, consulting business continues to evolve for Parsippany firm
With a history of guiding companies and site owners through government-mandated cleanups, EWMA has moved to expand its role in transactional real estate and adaptive reuse projects, all while seeking to add service lines that allow for longer-term relationships with its clients. In the process, the Parsippany-based firm has completed both an external rebranding in the marketplace and an internal plan to add new layers of expertise and build its talent pipeline for the future.
Can tech firms, startups fuel job growth and new office requirements in New Jersey?
In a market that has been hurt by densification and lackluster job growth, many of the state’s largest office leases in recent years have been tied to tenants looking to consolidate and upgrade their space. But technology and information firms have been a rare source of expansion in New Jersey, fueling new space needs that are about more than just a flight to quality.
Making sure the Garden State can grow its technology sector is a matter of creating the right environment and promoting what the state can offer in the way of labor, education and accessibility. Experts say it’s also up to landlords to ensure that they provide the space that tech users are looking for.
