With 2020 underway, owners of New Jersey office buildings are closely watching Trenton to see if the state will pass new tax incentives to attract employers. That’s one of the key issues and trends likely to drive the office market this year, according to interviews with brokers and landlords. In fact, observers say the fate of tax incentives will have more impact on New Jersey’s office market than the presidential election.
A joint venture has sold a well-known office complex in Hackensack for $123 million, in the largest of four year-end investment sales in New Jersey by CBRE’s institutional properties team.
An investment and asset management firm has moved its headquarters to Chatham, where it leases nearly 11,000 square feet as part of a transaction brokered by The Garibaldi Group.
Mountain Development Corp. has announced plans to overhaul one of three buildings in a well-known office campus along Interstate 80.
A joint venture has leased up the first of two buildings at a ground-up office project in West Windsor, as it now markets a second that will include about 38,000 square feet.
A specialty chemical maker has leased more than 20,000 square feet in New Providence, under a newly announced transaction by NAI DiLeo-Bram & Co.
For anyone who hasn’t visited 56 at Roseland, a newly repurposed, amenity-rich office campus in suburban Essex County, its architect is offering a look inside. Design firm Ware Malcomb recently touted the completion of the project at 56 Livingston Ave. in Roseland, where it worked on behalf of Mountain Development Corp.
Mountain Development Corp. has sold a multitenant, 171,216-square-foot office and research building in New Providence, in a deal arranged by Newmark Knight Frank.
A joint venture has sold an office building in Clark after three years of ownership, fetching more than $10.5 million for the recently upgraded, 76,000-square-foot property.