Transwestern is closing its New Jersey office next month, a company representative said, in a move that comes a decade after the commercial real estate services firm entered the market.
An investment firm has sold a corporate headquarters and life sciences building in Florham Park for nearly $47 million, under a transaction announced Wednesday by CBRE.
CenterPoint Properties has acquired an industrial site near Port Newark-Elizabeth, touting its abundance of parking and an opportunity for future development.
Office tenants in New Jersey are still flocking to new or upgraded buildings, but the ability for landlords to deliver Class A space could be slowed by the loss of state business incentives.
A landlord has tapped Transwestern Commercial Services as its broker for a nearly 150,000-square-foot flex industrial building in Cedar Knolls.
Construction is underway at the final piece of major mixed-use development in uptown Hoboken, where plans call for more than 100,000 square feet of office space alongside retail and luxury condominiums.
Demand for New Jersey industrial space continues to surge, causing asking rents to skyrocket even as developers race to deliver new buildings.