New Jersey Commercial Real Estate News

These stories are supplied by the CoStar Group.  The articles contain a cross-section of northern New Jersey happenings in the world of commercial real estate.  These articles are updated regularly.


Northern New Jersey Commercial Real Estate News From CoStar Group

The following companies announced personnel moves this week: Starwood Capital, Castle Lanterra, Phillips Edison & Co., Transwestern, Cushman & Wakefield, AMCAL, Valencia Capital, United Properties, JLL and Franklin Street.img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;}SOUTH FLORIDA

10/20/2017 12:39:43 AM

Edmund Hannon has joined Castle Lanterra Properties (CLP) as its chief operating officer. Hannon was previously the COO of Quest Global Advisors, as well as the head of the hedge fund investment due diligence and operational due diligence at Stamos Capital Partners, where he was a partner and member of its Investment Committee. Hannon has also held positions as the head of risk management for Royal Bank of Canada’s Alternative Assets Group...

10/17/2017 1:37:10 AM

In early October, Walmart announced it had acquired Parcel, a New York City-based, same-day, last-mile delivery company. The big-box behemoth cited online shoppers' growing demands for speed, flexibility and reliability of delivery as its impetus for the deal. But the strategy appears to be utilizing Parcel's delivery infrastructure to better service Walmart's online shoppers in New York City - a top market for purchasing via its and Walmart...

10/17/2017 12:52:10 AM

A year after acquiring a nearly $1 billion portfolio of suburban office properties, Horsham, PA-based Workspace Property Trust on Monday filed to raise up to $100 million through an initial public offering. Workspace Property, which first filed a confidential S-11 registration statement on June 30, plans to list on the New York Stock Exchange under the symbol WSPT, selling an undisclosed number of common shares in the IPO at a to-be-determined...

10/16/2017 8:35:10 PM

Brennan Investment Group has purchased the 26-building, 1.26 million-square-foot office and flex portfolio spread across Moorestown and Burlington Townships in Southern New Jersey from Mack-Cali Realty Corp. (NYSE:CLI). Brennan paid $74.95 million for the portfolio or about $59/square foot. The portfolio comprises 24 buildings in Moorestown and two in Burlington Township that are tenanted by a mix of businesses in the health care services, pharmaceutical...

10/15/2017 11:54:40 PM

Sitex Group broke ground on One Sharp Plaza, a 271,000-square-foot, class A industrial building in the Stateline Business Park at 1 Sharp Plz. in Mahwah, NJ. Slated for delivery in Q1-2018, the property is located less than one mile from the intersection of Route 17 and Interstates 87 and 287, with direct access to New York City via the Tappan Zee and George Washington Bridges. The building is rising on 20.7 acres and will feature 36-foot...

10/10/2017 2:52:26 AM

International Flavors & Fragrances, Inc. (NYSE: IFF), a global producer of flavors and fragrances, leased 50,600 square feet of office space at the Bell Works office building located at 101 Crawfords Corner Rd. in Holmdel, NJ. The recently-renovated Bell Works building, originally built in 1959, totals 1.2 million square feet of mixed-use space on 472 acres. Other tenants there include iCIMS in 342,375 square feet, Guardian Life Insurance of America...

10/10/2017 2:40:28 AM

Heritage Capital Group LLC, the investment arm of Heritage Management, acquired the Totowa Commerce Center in Totowa, NJ for $65.5 million, or about $129 per square foot, from Mack-Cali Realty Corporation. The 508,028-square-foot center is comprised of 12 flex buildings and one office property all constructed in the late 1980s and 1990s. The park is currently 90 percent occupied and also includes a 5.8-acre adjacent parcel for possible development...

10/10/2017 2:10:42 AM

MAST Construction Services, Inc., a Little Falls, NJ-based project and construction management services firm, has promoted Troy Marzziotti to vice president. In his new role he will focus on project operations for the firm. Marzziotti has been with MAST Construction for 13 years, and has more than 20 years of experience in the construction industry, having worked as a senior project manager and project executive.

10/10/2017 12:27:47 AM

PNC Financial Services renewed its lease for 88,914 square feet in 2 Tower Center Blvd. in East Brunswick, NJ. The 24-story, 404,00-square-foot office building was built in 1988 and features a seven-story parking garage, a conference center, health club and a full cafeteria. Jeremy Neuer of CBRE represented the tenant. David Simson of Newmark Knight Frank represented the landlord.

10/3/2017 2:53:25 AM



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