Mack-Cali Realty Corp. has completed a sweeping overhaul of its key suburban office portfolio, following more than $50 million in redesigns and renovations at buildings in the Parsippany, Short Hills, Metropark and Red Bank submarkets.
Avison Young has launched a new international practice focused on life sciences, tapping two of its New Jersey-based brokers as co-leaders of the specialty group.
Office buildings within the state’s transit hub market record lower vacancy rates and higher rents compared to suburban spaces, according to JLL’s annual research report. Companies continue to pursue office space in proximity to walkable amenity-rich areas and with access to mass-transit options for their workforces and clients.
For all of the appeal of having office space near a train station, eight of New Jersey’s best-known “transit hub” submarkets took a collective step back in 2017, although they continue to stand apart from the state’s suburban highway corridors.
After a lackluster end to 2017, executives with Mack-Cali Realty Corp. say leasing activity is poised for a rebound in its Hudson waterfront and suburban office buildings.
KEA Engineers is moving its headquarters in Woodbridge, with plans to occupy 12,400 square feet in the township’s Metropark section.
Tenant brokers with Savills Studley are touting an opportunity for office users in 2018, amid last year’s slowdown in leasing volume and growing availabilities in the state’s top submarkets.
Mack-Cali Realty Corp. will subsidize Uber rides to and from its suburban Metropark office buildings, under a newly announced partnership with the ridesharing company aimed at creating additional convenience at the properties.
Mack-Cali Realty Corp. has offered a glimpse at $50 million in upgrades it’s planning at a dozen suburban office buildings in the Parsippany, Short Hills, Metropark and Red Bank submarkets.