A joint venture has sold a majority interest in a Parsippany office building, following upgrades at the property that helped lure a pharmaceutical company’s U.S. headquarters in 2018.
NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.
Landlords that have renovated and refreshed New Jersey’s aging office stock can now point to the benefits, with a new report showing significantly stronger absorption and rent growth at upgraded buildings.
New Jersey’s office market is riding high from a series of blockbuster leases over the summer, recording its highest quarterly increase in net absorption in two years.
Teva Pharmaceuticals will move its U.S. headquarters to Parsippany from Pennsylvania, Gov. Phil Murphy said Thursday, bringing nearly 850 jobs and a commitment to occupy nearly 350,000 square feet.
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.
The state has approved a 10-year, $40 million tax credit package to encourage Teva Pharmaceuticals to move its U.S. headquarters from Pennsylvania to Parsippany, where it would lease more than 345,000 square feet to house more than 1,000 employees.
E-Trade Financial Corp. and Teva Pharmaceuticals have applied for more than $60 million in combined tax credits for proposals in Jersey City and Parsippany, respectively, with the state Economic Development Authority slated to consider their applications on Tuesday.
A real estate investment firm has added to its growing office portfolio in the state, acquiring a piece of the well-known Morris Corporate Center campus in Parsippany.
