The country’s largest cluster of co-working and flexible office space is only just across the Hudson River, but the fast-growing industry is still largely absent from New Jersey. Experts say that is due to change — and it’s only a matter of time.
Mack-Cali Realty Corp. has turned down an offer of more than $2.4 billion for its top waterfront and suburban office buildings, citing a “grossly inadequate” valuation from a group that is now moving to gain a majority position on its board.
Mack-Cali Realty Corp. has agreed to sell a 56-building, 3.1 million-square-foot office and flex portfolio for nearly $490 million, which it will use to pay down debt and fund its purchase of a Jersey City apartment building.
Mack-Cali Realty Corp. has completed its acquisition of a nearly 272,000-square-foot office building in Woodbridge, adding to its holdings in the Metropark submarket.
Mack-Cali Realty Corp. has shed another piece of its legacy office portfolio with the sale of a nearly 90,000-square-foot building in Morris Plains, brokers with Cushman & Wakefield said.
A home care provider has leased more than 8,000 square feet at a Hamilton office building, bringing the property to full occupancy less than a year after it changed hands.
Bergman Real Estate Group has stayed true to its core objective of creating value in New Jersey’s office market — but the firm has also evolved in how it reaches that goal, in a state whose buildings are now showing their age.
New York Life Real Estate Investors has completed $117 million in financing for a three-year-old, 311-unit luxury apartment tower in Jersey City developed by Roseland Residential Trust.
Commercial real estate faces no shortage of disruptive forces, a panel of industry leaders told NAIOP New Jersey last week, citing everything from ridesharing services and automation to changing corporate and consumer preferences.
Mack-Cali Realty Corp. has sold a nearly 193,000-square-foot office building in Bridgewater to Edgewood Properties, in a newly announced deal by Cushman & Wakefield.
