With the recent approval of the first awards under Emerge, the state’s new jobs-based tax incentive program, officials and other insiders expect to see a measured pace of applications for a subsidy that was designed to be more discerning and targeted than its predecessor.
The debate over New Jersey’s corporate incentive programs has been well-chronicled in recent years, but regardless of where you fall on the issue, there’s no denying their influence on the state’s commercial real estate market. That influence was all but gone for two years after Grow New Jersey and other subsidy programs were allowed to expire in summer 2019, with no immediate replacements in sight until Gov. Phil Murphy and lawmakers agreed on new incentives late last year. The state is now putting those offerings to work, starting with the jobs-based Emerge program that will fill the void left by Grow New Jersey.
The Connell Co. has unveiled a new flexible workspace and social club at The Park, its flagship 185-acre business campus in Berkeley Heights, where members have access to everything from fine dining and evening bar service to personal trainers and fitness classes.
Fiserv Inc. has announced plans to lease more than 400,000 square feet for a new financial technology hub in Berkeley Heights, following the state’s approval of a seven-year, $109 million tax credit to encourage it to bring nearly 2,000 jobs to New Jersey.
The Connell Co. has launched a new bike share program at its flagship business campus in Berkeley Heights, the latest piece of its plan to revamp the 185-acre property.
Local officials have approved the rezoning of The Connell Co.’s 185-acre business campus in Berkeley Heights, paving the way for new apartments, retail and entertainment venues alongside the property’s existing office and hospitality buildings.
The Connell Co. has unveiled three key additions to the culinary team at its sprawling business and hospitality campus along Interstate 78 in Union County.
A medical practice has purchased a nearly 6,200-square-foot office building in Berkeley Heights, under a newly completed transaction by NAI DiLeo-Bram & Co.
An investment group has landed a $9 million loan for a recently acquired industrial building in Berkeley Heights, in a newly completed transaction by JLL.
Connell Real Estate & Development Co., the developer and longtime owner of Connell Corporate Park in Berkeley Heights, is in the midst of a sweeping, $400 million improvement and expansion of the 185-acre property, one that will create new apartments, restaurants, entertainment and urban-style park space by 2023.