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Experts say the way to revive outdated, underutilized commercial properties in New Jersey is to make the sites an essential part of their communities.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.
French biopharmaceutical firm Ipsen is moving its U.S headquarters out of New Jersey and into Massachusetts, although it said it still plans to maintain a presence in the Garden State.
A joint venture has sold a 306,000-square-foot office building in Somerset County for nearly $100 million, following a sweeping renovation that modernized the 40-year-old property and attracted a global pharmaceutical company as a headquarters tenant.
John Saraceno Jr. (left) and Jonathan Schultz, co-founders and managing principals of Onyx Equities LLC, have helped grow the company into one of the state’s top private value-add investment firms in New Jersey since its founding in 2004. — Photo…