The office market may be facing a new normal, but tenants in the life sciences, health care and technology sectors are best-positioned to drive demand in the wake of COVID-19.
Mack-Cali Realty Corp. has sold a 10-story office building near the entrance of the George Washington Bridge in Fort Lee, brokers with Newmark Knight Frank announced Monday.
The owner of a prominent office tower in East Brunswick has taken the wraps off its plans to upgrade the property, while touting a recent uptick in leasing as a result of the investment.
New Jersey’s office market saw two major leases and a pair of blockbuster sales in the first quarter, headlining an active start to the year before the onset of the coronavirus crisis.
A global communications firm has leased more than 65,000 square feet at a three-building commercial campus in Warren, in a newly announced transaction by Newmark Knight Frank.
A joint venture has acquired a 39-building, mixed-use portfolio in Hoboken, brokers with Newmark Knight Frank announced, in a deal reportedly valued at more than $200 million.
Avison Young is touting the completion of a new medical office building in Essex County, following a recent unveiling by a development team and health care leaders.
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 pizza concept is joining the retail mix at an office building in Jersey City, whose owner has committed more than $10 million to reposition and upgrade the nine-story property.