The Solomon Organization has named a new president of property management to help oversee its nine-state, 17,000-unit multifamily portfolio.
New Jersey shopping centers that once buzzed with a steady hum of activity have been quiet since late March, with most retail businesses shut down to contain the spread of COVID-19. Retail landlords are now scrambling to figure out how to deal with tenants who say they can’t pay rent because their revenue streams have stopped cold — even though property owners still have their own financial obligations.
Merck & Co. is leaving its Kenilworth headquarters and returning its front office to Rahway, in a move that is slated to take place by the end of 2023.
A broker with Gebroe-Hammer Associates has won a top honor from the firm in connection with last year’s $75 million sale of a 487-unit, 18-building portfolio in Hudson and Bergen counties.
An investment and asset management firm has moved its headquarters to Chatham, where it leases nearly 11,000 square feet as part of a transaction brokered by The Garibaldi Group.
Office markets around New Jersey’s transit hubs are still outshining their suburban counterparts, with a widening gap in asking rents and continued interest from major tenants.
The Silverman Group has sold a fully leased, 42,000-square-foot office building in Summit, brokers with Cushman & Wakefield announced Wednesday.
The Solomon Organization, a Summit-based multifamily owner and investor, is touting a major expansion of its portfolio after more than $1 billion worth of activity over the past two years.
For all of the appeal of having office space near a train station, eight of New Jersey’s best-known “transit hub” submarkets took a collective step back in 2017, although they continue to stand apart from the state’s suburban highway corridors.