Office
JLL: Pharma, life sciences tenants still loom large in New Jersey after an active 2024

Life sciences companies accounted for nearly a third of all leases signed in New Jersey last year, showing the industry’s continued role in the state’s changing commercial real estate market.

Office
Onyx, PCCP sell revitalized 439,000 sq. ft. office building near Morristown, C&W says

Onyx Equities and PCCP have sold a 439,000-square-foot office building outside Morristown — reportedly for $118.5 million — following nearly a decade of ownership and an ambitious plan to rejuvenate the property.

Office
Onyx, Cushman tout lease-up of new-look 350,000 sq. ft. office building in Paramus

Onyx Equities has leased up a 350,000-square-foot office building in Paramus, following a renovation that began in 2020 and a marketing push led by Cushman & Wakefield.

Office
Onyx, Porzio Bromberg ink 43,000 sq. ft. lease as Parsippany campus adds another law firm

Onyx Equities has lured another law firm to The Arbors @ Parsippany office campus, leasing more than 43,000 square feet to a practice that has spent nearly 65 years in the Morristown area.

Office
Onyx leases 25,000 sq. ft. to Einhorn Barbarito in latest deal at ‘The Arbors’ in Parsippany

Onyx Equities has lured another tenant to a revitalized office campus in Parsippany, having leased nearly 25,000 square feet to a locally based law firm.

Health Care & Education
Onyx welcomes JAG Physical Therapy to The Junction at Gateway Center in Newark

Onyx Equities has welcomed JAG Physical Therapy to Newark’s Gateway Center, marking the latest addition to the revamped retail lineup at the four-building office complex.

Events
United Way honors Central 9 Logistics Park, Kenvue headquarters while marking 25 years of support from New Jersey commercial real estate leaders

United Way of Northern New Jersey marked a milestone last week with its 25th annual Legacy Event, drawing some 400 attendees and raising $335,000 as the state’s commercial real estate sector continued its outsized, longstanding support of the organization.

Top News
The health care effect: Inside the deal for Hackensack Meridian’s new hub at Metropark — and what it says about the industry’s role in commercial real estate

Plans for a high-profile Hackensack Meridian Health facility in Woodbridge are only 18 months in the making. Yet it was the product of relationships that had formed years earlier at the upper levels of New Jersey’s real estate and health care sectors, helping to make good on years of planning by state and local officials to activate the Metropark train station.

Editor’s Note
Bearing fruit

I’m as guilty as anyone of overusing words like “transformative” when it comes to major redevelopment projects. But it seems in some instances like there’s no avoiding it. A case in point is a plan for Woodbridge’s Metropark train station, where surface parking lots will become a new office and ambulatory care center spanning nearly 250,000 square feet, as well as 235 luxury apartments and retail space. If you ask me, that seems transformative enough.

Our cover story this month is a deep dive on that project, which Hackensack Meridian Health unveiled in early March alongside Gov. Phil Murphy and a team that includes Russo Development, Onyx Equities and Dinallo Development.

Retail
Onyx, PCCP sell 219,000 sq. ft. Plainsboro retail center for $42 million

Onyx Equities and PCCP LLC have sold a Princeton-area shopping center, reportedly for some $42 million, following a major upgrade nearly a decade ago that helped boost occupancy at the nearly 219,000-square-foot property.