Office
C&W: Eastman inks $38 million recap, refi for 380,000 sq. ft. Livingston office complex
Eastman Cos. has refinanced and recapitalized The Eisenhower, its flagship office complex in Livingston, in a newly announced deal by Cushman & Wakefield.
Newmark: Fairfield office building hits 85 percent occupancy after new 18,000 sq. ft. lease
A new tenant is coming to a Fairfield office building after inking a lease for some 18,000 square feet, marking the latest deal at the property by brokers with Newmark Associates.
On the horizon
Two key asset classes in New Jersey have become inextricably linked in the last two to three years, as local governments increasingly turn to their aging office stock to fill the state’s housing deficit. Some have done so proactively, but others are acting out of necessity as they race to comply with New Jersey’s updated affordable housing law. That’s causing some market leaders to wonder if municipalities will face “multifamily fatigue” after the latest round of mandates and the corresponding land use planning, which has played out across the state over the past 12 months.
A changing landscape: Development leaders expect office-to-residential conversions to slow, be reimagined
Some veteran real estate experts are predicting “multifamily fatigue” in the Garden State as towns deal with the latest round of state-mandated affordable housing obligations, potentially reshaping the state’s development scene and the pipeline of residential projects.
Glussky named assistant vice president in expanded role with Sheldon Gross Realty
Sheldon Gross Realty has promoted Josh Glussky to assistant vice president, expanding his role with the West Orange-based firm after his arrival nearly three years ago.
