“At our board meeting on Tuesday, January 8th, our board voted to reject an offer from the City of New York to modify the current lease extension terms at our location in the Bronx. A Crains.com story from Tuesday afternoon has incorrectly indicated that the co-op has reached a ‘tentative’ agreement with the city in regards ...
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Real Estate
N.J. office market ends 2012 flat after year of fluctuation
The total amount of occupied space in the region grew by a mere 10,345 square feet last year, the brokerage firm found in its fourth-quarter market study. That number is effectively flat “when you’re dealing with 150 million square feet of space” across the market, said Jonathan Meisel, a JLL broker and former market director ...
Read More »Robbinsville lands coveted Amazon.com warehouse
“We understand Amazon could have chosen anywhere in New Jersey to build its new distribution center, and we are fortunate to have the infrastructure and resources to meet their needs and consummate one of the most sought-after business partnerships in recent memory,” Robbinsville Mayor Dave Fried said in a statement. “With hundreds of new jobs ...
Read More »Rutgers adds 3M real estate chair
The other $1.5 million was provided by an anonymous donor who pledged $27 million toward Rutgers’ “Endowed Chair Challenge,” which aims to bring 18 “world-class” faculty to Rutgers as part of the university’s billion-dollar “Our Rutgers, Our Future” campaign.Once hired, the new chair’s job will be to set up an MBA concentration in real estate ...
Read More »Colliers hopes Princeton office executive helps drive interest in key submarket
The hiring by Colliers comes at an uncertain time for the state’s office market, including much of central New Jersey.
Read More »BGC acquires Philadelphia-based Smith Mack
The deal marks BGC’s second aggressive push into the South Jersey market, as the firm added an office in Marlton when it acquired Grubb & Ellis Co. in April, and it will gain a second Marlton office by folding Smith Mack into its NGKF subsidiary. BGC added Woodbridge-based Helios Capital Advisors in October to strengthen ...
Read More »Novartis buys Morris Plains drug manufacturing site in 43M deal
Dendreon Corp. today announced the sale of a 173,100-square-foot immunotherapy manufacturing facility to Novartis Pharmaceuticals Corp. for $43 million in cash.
Read More »States hopes sale of blighted Ft. Monmouth complex spurs residential development
A blighted housing complex at Fort Monmouth was put up for sale today, with state officials hoping to entice new residential development at the 64-acre site.
Read More »Reinvestments help Normandy land tenant at Center 78
The company recently completed a $12 million capital expenditure program to make class A-type improvements, like the installation of a cafeteria and a fitness center.
Read More »Experts react to N.J. bill to expedite foreclosure of vacant homes
State lawmakers have scored a partial victory in their bid to tackle New Jersey's foreclosure crisis, after Gov. Chris Christie signed a bill that would expedite the process for vacant and abandoned homes.
Read More »Climate change, post-Sandy planning discussed at rebuilding event
Efforts to recover from Hurricane Sandy will only succeed if government leaders take the long view and incorporate a wide swath of stakeholders — including the private sector, experts said today at event focused on rebuilding the Jersey Shore.
Read More »Rental rates improving, but South Jersey office market still struggles
Improved leasing and sales activity will hardly put a dent in the region’s expansive vacancies in the year ahead, according to a report by Wolf Commercial Real Estate LLC, in Voorhees.
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