A joint venture has landed a $43 million loan to refinance a 288-unit apartment complex in Plainsboro, following a series of upgrades aimed at creating value at the property.
Office tenants in New Jersey are still flocking to new or upgraded buildings, but the ability for landlords to deliver Class A space could be slowed by the loss of state business incentives.
A biotechnology firm is set to become the first new tenant at the former Bristol-Myers Squibb campus in Plainsboro, where it will lease more than 90,000 square feet for its new U.S. headquarters and research lab.
Life sciences firms accounted for the two largest office leases of the second quarter in northern and central New Jersey, in a market that remains stable despite a slight uptick in availability.
Three female-led co-working spaces have joined the growing list of locations that are eligible for rent support grants under a program offered by the state Economic Development Authority.
The state has approved a 10-year, $12.8 million tax credit package to encourage a biotechnology company to expand in Mercer County, with the potential to take 90,000 square feet at a former Bristol-Myers Squibb headquarters campus in Plainsboro.
Teva Pharmaceuticals isn’t the only life sciences company to impact New Jersey’s office market this year, as several others have inked sizable leases to expand or upgrade their space.
Despite new blocks of space hitting the market, New Jersey saw a long-overdue surge of large office leases in the second quarter — with signs that more are on the way.
An investment manager has set out to reposition two buildings at the former Bristol-Myers Squibb headquarters campus in Plainsboro, while tapping Colliers International to market more than 400,000 square feet at the property.
Lincoln Equities Group has completed new leases and a renewal at properties near Princeton and Morristown, including deals with a hospital network and a major financial services organization.
