Experts say the struggles of New Jersey’s suburban office market are not as clear-cut as many still believe. Those challenges are in fact real, but there are still plenty of opportunities for owners and developers to make a splash.
With an uptick in demand that started last fall, lenders with Investors Bank have financed more than $100 million in commercial real estate transactions in recent weeks.
Seven tenants have inked new leases at a Short Hills office building, accounting for more than 20,000 square feet of recent activity.
With a goal of reshaping its footprint as a “totally class A portfolio,” Mack-Cali Realty Corp. has sold more than 35 of its office buildings since the start of 2016, the company said, reaping more than $700 million from properties that it deemed nonstrategic or underperforming.
The Blau & Berg Co. has named Alessandro Conte a shareholder and executive vice president with the commercial real estate brokerage firm.
The U.S. economy is nearing the end of its current expansion cycle, but there are still reasons for optimism about the commercial real estate market in New Jersey and nationally.