Multifamily investment sales in Monmouth and Burlington counties are on the rise, fueled by the growth of rental communities around highways such as interstates 195 and 295.
Mack-Cali Realty Corp. has sold a 1.2 million-square-foot office and flex portfolio in Burlington County, according to brokers with HFF who marketed the buildings.
It was New Jersey’s largest industrial lease of the fourth quarter — and it was a fitting end to the year for a market that has been fueled by e-commerce tenants and big box construction. But the commitment by Modway Furniture was every bit as notable for its location as it was for its size.
Mack-Cali Realty Corp. is seeking a buyer for another large piece of its real estate footprint — a group of more than two dozen office and flex buildings in Burlington County.
Office leasing in three southern New Jersey counties saw a slight uptick in late 2016, according to a new report, pushing vacancy in the region to just under 11 percent to end the year.
