Mill Creek Residential has opened a new regional office in Jersey City, where it plans to support its continued growth in New Jersey and New York.
New Jersey’s office market is riding high from a series of blockbuster leases over the summer, recording its highest quarterly increase in net absorption in two years.
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.
A three-building, 538,000-square-foot medical office complex in Morristown has changed hands, in what HFF says is the state’s largest medical office sale this year.
A nearly 85,000-square-foot lease by a global pharmaceutical firm is among several recent deals at a Morristown office building, where ownership has unveiled $7 million in upgrades.
Teva Pharmaceuticals isn’t the only life sciences company to impact New Jersey’s office market this year, as several others have inked sizable leases to expand or upgrade their space.
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.
Avison Young has not looked back since entering New Jersey with a splash in 2012 — and the real estate services firm has its sights set on continued growth in the state.
The Hampshire Cos. will host a golf tournament this fall to honor the memory of Todd Anderson, a longtime and well-respected executive who died earlier this year.