Colliers International has added to its New Jersey leasing team with the hiring of a veteran broker and former leader of Transwestern’s office in the state.
A seven-member team previously with Transwestern has joined Lee & Associates New Jersey, helping to bolster the firm’s growing footprint in the Garden State.
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.
The economic engine powering the New Jersey industrial real estate market will continue to be the rapidly transforming retail sector, driven primarily by relentlessly rising demand from consumers for rapid home delivery of purchases, whether from online retailers or traditional but restructured brick-and-mortar retailers.
Smaller-sized leases continued to dominate New Jersey’s office market as 2019 came to a close, putting a drag on overall deal volume as larger transactions remained elusive.
Levin Management Corp. has made another addition to its team, hiring a longtime property management executive to help oversee its growing commercial portfolio.
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.
A biotechnology company is consolidating its headquarters, manufacturing and research and development functions as part of a new full-building, 147,215-square-foot lease in Florham Park.