An affiliate of a Somerset-based pharmaceutical firm has acquired a 56,000-square-foot warehouse in Branchburg, according to the brokerage GM Realty Advisors Inc.
An affiliate of SJP Properties has completed two phases of a plan to overhaul the five-floor, 100,000-square-foot office space in Newark that is home to McCarter & English LLP.
The state’s commercial real estate sector renewed its support of the United Way of Northern New Jersey, raising more than $250,000 in a program that showcased plans to transform Newark’s flagship office complex, while recognizing a top broker with JLL.
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.
One of the state’s largest law firms has extended its nearly 120,000-square-foot lease at Newark’s Gateway complex, whose ownership is planning a sweeping upgrade and expansion.
As developers continue to invest in downtown Newark, the city is attracting both new residents and businesses. That makes it all the more important to create amenities and spaces that will bring permanent foot traffic during the day and at night, which has become a growing focus for both public- and private-sector leaders in the state’s largest city.