KBS has sold a nearly 630,000-square-foot office campus in Woodbridge for $88 million, in a transaction arranged by Newmark’s New Jersey-based capital markets team.
Mack-Cali Realty Corp. has sold four office buildings in the Metropark submarket for $254 million, as it sheds another key piece of its once-sprawling suburban portfolio.
Office leasing in New Jersey rebounded modestly in the third quarter, even as the pandemic continues to weigh on the market and fuels a sizable uptick in availabilities.
The new owner of a nine-story office building in Woodbridge has tapped Avison Young as its leasing agent, following the brokerage team’s success at a large campus in Morris County.
Insurance giant AIG has sold a 470,692-square-foot office building in Woodbridge for $140 million, in a transaction announced Friday by Cushman & Wakefield.
KBS is seeking a buyer for a six-building, 630,000-square-foot office complex in Woodbridge, according to the private equity real estate firm and brokers with Newmark Knight Frank.
Office leasing in New Jersey slowed significantly in the second quarter, with renewals and extensions accounting for most of the activity as tenants navigated the coronavirus crisis.
