A pharmaceutical company has selected SJP Properties to manage the build-out of its new 300,000-square-foot U.S. headquarters in Nutley.
Vacancy in the northern New Jersey office market grew for four straight quarters in 2020, even as a handful of industries showed the ability to withstand the effects of pandemic.
Prism Capital Partners is preparing to start construction on a new preleased, 80,000-square-foot medical office building in Clifton, the latest addition to its flagship ON3 campus.
Office leasing in New Jersey rebounded modestly in the third quarter, even as the pandemic continues to weigh on the market and fuels a sizable uptick in availabilities.
The developer of a 108-unit apartment building in Nutley has sold the property for $19 million, in a newly announced transaction by Gebroe-Hammer Associates.
A global pharmaceutical company is moving its U.S. headquarters to Prism Capital Partners’ ON3 campus, having signed a full-building lease for the site’s landmark 15-story office tower.
After decades of consolidation by Big Pharma, demand for modern lab and diagnostic space in New Jersey is on the rise, fueling rent growth and pushing some developers to consider new laboratory projects.
The nation’s life sciences sector continues to expand, boosted by technological advancements, growing employment and a strong economy. While Boston and San Francisco remain the country’s main life sciences hub, their tightening inventory and constrained labor force has driven momentum south to the Garden State.
Prism Capital Partners has relocated its headquarters to ON3, the mixed-use campus that it’s developing at the sprawling former Hoffmann-LaRoche campus in Nutley and Clifton.
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.