With 2020 underway, owners of New Jersey office buildings are closely watching Trenton to see if the state will pass new tax incentives to attract employers. That’s one of the key issues and trends likely to drive the office market this year, according to interviews with brokers and landlords. In fact, observers say the fate of tax incentives will have more impact on New Jersey’s office market than the presidential election.
Alfred Sanzari Enterprises has named a new director of construction, tapping a 13-year veteran of the company to fill the post.
A real estate investment trust is selling seven apartments properties in New Jersey and New York for $266.5 million, as the portfolio’s buyer continues to grow its suburban multifamily holdings.
A flooring manufacturer has leased more than 70,000 square feet at a Somerset County industrial building, in the largest of several newly announced transactions by Team Resources Inc.
A joint venture has sold a well-known office complex in Hackensack for $123 million, in the largest of four year-end investment sales in New Jersey by CBRE’s institutional properties team.
Normandy Real Estate Partners has closed on two transactions under the federal Opportunity Zone program, as it touts a milestone in its effort to raise $250 million for such investments.
An affiliate of Alfred Sanzari Enterprises has sold an 87-unit apartment portfolio in Bergen County for nearly $16 million, in a series of deals arranged by The Kislak Co. Inc.
Alfred Sanzari Enterprises has promoted a member of its property management team, expanding her role in overseeing its 2 million-square-foot commercial holdings.
Alfred Sanzari Enterprises has acquired a 24-unit luxury apartment community in Essex County as part of a newly completed 1031 exchange.