Initial occupancy at the 98-unit property from locally based Skye Development LLC is expected for July 1.

The U.S. median monthly asking rent topped $2,000 for the first time in May, according to real estate company Redfin, which ranked this Middlesex County metro in its top 10.

Joint venture partners Rubenstein Partners LP and Vision Real Estate Partners announced a long-term, 360,000-square-foot lease with the company, which will relocate its global base of operations from South Plainfield to Somerset County.

Previous ownership invested $15.2 million in recently completed renovations at the properties, on top of which the current owner said they will add more than $10 million in updates to the lobbies, cafes, common areas and restrooms.

Local officials and executives of developers SJP Properties and Scotto Properties joined Valley CEO Ira Robbins to formally kick off construction, which is scheduled for completion in March 2023.

The residential real estate services giant announced it was changing its name from Realogy back in March to modernize its appearance and align with a broader strategic shift.

“Our mission was to create a sustainable and safe outdoor space for our young students,” said Sam Crane of the Maher Charitable Foundation. The work to achieve that goal, sparked by a group of nonprofits, was aided by efforts from New Brunswick's DIGroup Architecture and Jersey City's Dresdner Robin.

Cushman & Wakefield will exclusively lease the Burlington County site after representing the buyer in the sale.

JLL Capital Markets arranged the financing, which will kick off the transformation of the Lanidex Plaza Office Park into a mixed-use development with luxury living, retail space, townhouses, Class A office space, and athletic fields.

Marcus & Millichap announced the sale of the 32,000-square-foot mixed-use property.

Located on 13.8 acres, Riverfront Plaza is 96% leased with additional tenants including, Sherwin-Williams, Leslie's Pool Supplies and Taco Bell.

The company will take up residence at Alfred Sanzari Enterprises' live-work-play campus in Teaneck, which is set to include executive offices, a camera display showroom and an equipment repair facility.