After a lackluster end to 2017, executives with Mack-Cali Realty Corp. say leasing activity is poised for a rebound in its Hudson waterfront and suburban office buildings.
A private investor has sold a mixed-use, 23,000-square-foot property in Red Bank for more than $6 million, brokers with Marcus & Millichap announced Monday.
Developer and investment firm Saxum Real Estate has purchased a well-known, 38,000-square-foot office building in Red Bank, its latest acquisition in the borough in a little more than a year.
Despite suffering the largest occupancy losses in nearly a decade, the northern New Jersey office market emerged from 2017 with reasons to be optimistic.
Mack-Cali Realty Corp. has offered a glimpse at $50 million in upgrades it’s planning at a dozen suburban office buildings in the Parsippany, Short Hills, Metropark and Red Bank submarkets.
Hovnanian Enterprises reportedly will sell its headquarters building in Red Bank to OceanFirst Financial Corp., paving the way for the homebuilder to move its offices to Old Bridge.
