An investor has purchased a Rockaway industrial building that has served as office space in recent years but will now go back to its original use, brokers with CBRE announced.
Office leasing in northern New Jersey hit a two-year high at the end of 2021, thanks in part to large-scale deals by prominent banking and law firm tenants in the state.
The owner of a Woodcliff Lake office building has detailed its new lease with Party City’s parent company, which will bring its headquarters to the property in 2022.
Party City will in fact move its corporate headquarters to Woodcliff Lake, where it will lease more than 200,000 square feet to backfill a soon-to-be-vacant office building.
The state’s office market took modest steps toward a recovery in the third quarter, as the pace of new listings slowed and as renewals helped sustain leasing activity in many locations.
State officials have approved a nearly $10 million tax credit that would pave the way for Party City Holdings Inc. to lease more than 200,000 square feet of office space in Woodcliff Lake.
