Edgewood Properties has acquired a 250,000-square-foot office building in Somerset County that was recently vacated by a global insurance company, in a deal arranged by JLL.
A pharmaceutical company has purchased an office complex in Basking Ridge for $4.6 million, in a deal arranged by Kislak Commercial Real Estate Services Inc. and The Garibaldi Group.
A fitness and personal training facility has signed a lease to expand its footprint in Hamilton, in one of several newly announced deals by R.J. Brunelli & Co. LLC.
The state’s office market took modest steps toward a recovery in the third quarter, as the pace of new listings slowed and as renewals helped sustain leasing activity in many locations.
Experts say the way to revive outdated, underutilized commercial properties in New Jersey is to make the sites an essential part of their communities. That can mean increasing the amount of public green space or adding mixed-use elements, among other options aimed at redeveloping so-called stranded assets.
A wealth management firm has signed a long-term lease extension for more than 3,000 square feet in Basking Ridge, according to brokers with Lincoln Property Co.
Office leasing in New Jersey slowed significantly in the second quarter, with renewals and extensions accounting for most of the activity as tenants navigated the coronavirus crisis.
A joint venture has secured financing for its acquisition of a two-building, 104,202-square-foot office complex in Somerset County, brokers with JLL announced Thursday.