With nearly a dozen acquisitions and more than $750 million in combined investment — all since spring 2018 — The Birch Group is exceedingly bullish on northern New Jersey’s office market and the expected return to work in top-tier locations.
Mack-Cali Realty Corp. has sold four office buildings in Short Hills for $255 million, in a deal that marks another addition to the buyer’s fast-growing portfolio in New Jersey.
Vacancy in the northern New Jersey office market grew for four straight quarters in 2020, even as a handful of industries showed the ability to withstand the effects of pandemic.
Investors have sold a 100-unit luxury apartment building in New York’s Westchester County for more than $32 million, in a deal by Walker & Dunlop’s New Jersey-based brokerage team.
Investors Bank has closed nearly a dozen commercial real estate loans valued at $227 million in recent months, including more than $90 million in transactions for its New Jersey clients.
Mack-Cali Realty Corp. will largely stay the course for now, its interim CEO said this week, with a continued focus on selling its suburban office buildings and stabilizing its waterfront portfolio as it searches for a permanent chief executive.
A new survey has found that many workers are looking forward to going back to the office, but remain concerned about getting sick and not having enough personal space.
Rent collections for Mack-Cali Realty Corp.’s office and residential holdings have held strong thus far, as the company works with tenants to navigate the COVID-19 economic crisis.
