Landlords continue right-sizing, refreshing office stock, as state incentives question looms large

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.

Sanzari promotes longtime construction manager to director

Alfred Sanzari Enterprises has named a new director of construction, tapping a 13-year veteran of the company to fill the post.

FREIT, Kushner Cos. agree to $266.5 million sale of 1,000-unit rental portfolio

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.

Team Resources: Flooring maker takes 73,000 sq. ft. in Somerset

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.

CBRE inks $123 million sale of Hackensack office campus, touts year-end flurry

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 closes on Jersey City, Hackensack projects under Opportunity Zone fund

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.

Kislak: Bergen County rental portfolio fetches $15.7 million

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.

Sanzari announces promotion to commercial property manager

Alfred Sanzari Enterprises has promoted a member of its property management team, expanding her role in overseeing its 2 million-square-foot commercial holdings.

Sanzari completes 1031 exchange, purchasing 24-unit rental complex in Essex County

Alfred Sanzari Enterprises has acquired a 24-unit luxury apartment community in Essex County as part of a newly completed 1031 exchange.

Hackensack industrial building fetches $4.6 million, Marcus says

A private investor has acquired a nearly 40,000-square-foot industrial property in Hackensack, brokers with Marcus & Millichap announced Tuesday.