Experts say the struggles of New Jersey’s suburban office market are not as clear-cut as many still believe. Those challenges are in fact real, but there are still plenty of opportunities for owners and developers to make a splash.
Zimmel Associates has brokered the sale of a Somerset County industrial building for the second time in 10 months, following a series of upgrades by the property’s outgoing owner.
Prism Capital Partners and an institutional partner have sold their flagship BroadAcres Office Park a decade after acquiring the four-building, 380,000-square-foot campus in Bloomfield.
New leases and expansions by existing tenants have fueled more than 50,000 square feet in recent deals at a Hackensack office building, brokers with Cushman & Wakefield said.
As it makes acquisitions in key downtowns around New Jersey, a growing development and investment firm has added a director to oversee leasing and management of its portfolio.
A private investor has paid nearly $19 million for a North Brunswick warehouse, where it plans to nearly double the building’s clear height as part of a major capital improvement.
The owner of a 324,540-square-foot warehouse in Monroe has sold the property, Cushman & Wakefield announced, in a rare industrial investment sale in the Exit 8A submarket.
A series of leases, renewals and expansions have accounted for more than 33,000 square feet of tenant activity at a 215,000-square-foot office building in Fort Lee, the property’s manager said.
A grocery-anchored shopping center just ahead of the Lincoln Tunnel has a new owner, following a $19 million investment sale brokered by Cushman & Wakefield.
Mack-Cali Realty Corp. has acquired three office buildings in Red Bank for $26 million while selling a property in Bridgewater, in separate transactions arranged by Cushman & Wakefield.
