Mack-Cali Realty Corp. has sold a nearly 193,000-square-foot office building in Bridgewater to Edgewood Properties, in a newly announced deal by Cushman & Wakefield.
In a time when investors have reaped windfalls from upgraded office buildings in New Jersey, CBRE’s capital markets team has been on the front lines — spearheading a host of high-profile deals involving newly stabilized, Class A buildings in the state.
Investors Bank has inked a $36 million loan for a 144,000-square-foot warehouse in Elizabeth, the largest among 10 recent closings announced by the lender.
Landlords that have renovated and refreshed New Jersey’s aging office stock can now point to the benefits, with a new report showing significantly stronger absorption and rent growth at upgraded buildings.
A national massage chain is among the newest tenants at a Bridgewater shopping center, leasing nearly 3,000 square feet at the 219,000-square-foot property.
New Jersey’s office market is riding high from a series of blockbuster leases over the summer, recording its highest quarterly increase in net absorption in two years.
