Two life sciences companies have taken a combined 215,000 square feet in Morris and Somerset counties, accounting for New Jersey’s largest new office leases during a positive first quarter.
A three-building, 231,000-square-foot office park in Warren is slated for a series of updates as part of a newly announced marketing plan by Newmark Knight Frank.
NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.
The Garibaldi Group has hired a veteran broker and consultant who will play a key role in the firm’s efforts to revamp and expand its real estate services platform.
With 2019 underway, competition among commercial real estate investors has only intensified in New Jersey, largely around properties that offer some level of safety in the later stages of the economic expansion.The Garden State is by no means alone in that regard, but brokers and other experts say they expect demand to stay robust in the near term, citing everything from Wall Street volatility to the continued arrival of buyers from other markets.
It’s hard to believe that more than two years have passed since we launched Real Estate NJ with what I felt was a compelling cover story: Foreign investors were making a splash in New Jersey and paying impressive prices for properties across the state. That trend has seemingly slowed since then, at least when it comes to high-profile deals involving trophy properties. But the good news is that New Jersey is still drawing investors from beyond the state — whether it’s New York, Chicago or the West Coast — who are entering the market for the first time.
The owner of a well-known, 18-story office tower in Newark has tapped Newmark Knight Frank to market the property for sale.
Electronics and printer products maker Ricoh USA is moving to a revamped office building in Parsippany, under a nearly 56,000-square-foot lease announced by Cushman & Wakefield.
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.