PARAMUS--The Goldstein Group, New Jersey’s leading commercial real estate brokerage firm, recently completed its midyear survey of New Jersey’s retail marketplace and concluded that as of July 2010 there was an overall vacancy rate of 8.16% throughout Northern and Central New Jersey, compared to the 8.11% in January and 8.18% of July 2009.
LINDEN--NAI James E. Hanson has announced the completion of a 30,120-sf industrial lease transaction at 340 Stiles St. in Linden.
PARSIPPANY--Increased activity, the flow of new money, a mark-down of assets, and stabilized vacancies are some of the positive signs that have emerged in the region’s commercial real estate market, according to Robert R. Martie, 2010-2011 Secretary of the Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area (IOREBA).
EDISON--Mack-Cali Realty Corporation has announced that The Bank of Tokyo-Mitsubishi UFJ, Ltd., a subsidiary of Mitsubishi UFJ Financial Group, has signed a nine-year, 24,607-sf expansion lease at Mack-Cali’s Harborside Financial Center in Jersey City.
MOUNTAIN LAKES--NAI James E. Hanson has been named the exclusive leasing agent for Mountain Lakes Corportate Center a 28,601-sf office space located at 333 Route 46 in Mountain Lakes.
WOODBRIDGE--The Kislak Company, Inc., recently completed nine separate multifamily transactions throughout New Jersey.
CLIFTON--Newmark Knight Frank Capital Group has completed the sale of 2, 4 and 6 Brighton Road in Clifton, a 163,000-sf Class B multi-building office complex that until recently was owned and occupied by Linens-N-Things for its corporate headquarters.
ELMWOOD PARK--Alfred Sanzari Enterprises, one of Northern New Jersey's oldest and most respected real estate owners and developers, has announced the completion of a 17,000-sf lease expansion with BioReference Laboratories Inc. and a 4,167-sf lease renewal with Medhealth Management Inc. at Elmwood Park Plaza, bringing occupancy at the 64,000-sf office building to more than 90 percent.
PARSIPPANY--Jones Lang LaSalle has hired two industry veterans to join its Project and Development Services (PDS) division in New Jersey. David Pope and Christopher Romney will serve as a Senior Project Managers providing project management services to both commercial real estate owners and tenants.
LIVINGSTON--Acorn Financial Services, part of the John Hancock Financial Network, has leased 20,000 sf of prime office space in Eisenhower Corporate Campus in Livingston, according to an announcement this week by Michael and Peter Schofel, Managing Partners of Eastman Companies, owner-managers of the 385,000-sf award-winning office facility.
BEDMINSTER--Archimedes Pharma, an international specialty pharmaceutical company, has leased 14,000 sf at One Crossroads Drive in Bedminster, announced commercial real estate services firm Cushman & Wakefield, Inc.
HOBOKEN--ICREW NJ, a Chapter of CREW Network, will be joining CCIM and IOREBA for a Boat Cruise around Manhattan on Wednesday, September 29, 2010.
NORWOOD--- Alfred Sanzari Enterprises has announced that Enor Corporation has signed a 52,100-sf lease to occupy the entirety of 10 Maple Street in Norwood.
PARSIPPANY, NJ-- Colliers International has completed a long-term, 11,492-sf relocation on behalf of Taylor Management Company at 80 South Jefferson Road in Whippany.
PRINCETON--The Residences at Palmer Square, the new luxury townhome and condominium community in the heart of downtown Princeton, is anticipating completion of the 27 homes in Phase I. The 11 townhomes in Phase I will be completed by early fall and the 16 condominiums by the end of the year.
SOMERSET--Jones Lang LaSalle represented SHI International Corporation in its purchase of 290 Davidson Avenue in Somerset. The 420,000-sf Class A office building will serve as the company's new headquarters.
LAFAYETTE--NAI James E. Hanson has been named the exclusive sales agent for a 11,000-sf investment portfolio at 102-104 Route 15 in Lafayette.
LOS ANGELES, CA-- Thomas Properties Group, Inc. and Brandywine Realty Trust have agreed to establish a partnership to own Commerce Square, located at 2001 and 2005 West Market Street in Philadelphia, PA.
WEST CALDWELL--Cushman & Wakefield, Inc. has arranged the acquisition of 12 York Avenue, a 52,204-sf warehouse/distribution and office building, by MaxLite, a distributor of energy-efficient products that will utilize the facility as its new headquarters, replacing a leased facility nearby.
HILLSBOROUGH--Jump! Zone will establish its latest party and play center at Hillsborough Business Center, the 27-building complex of managed office style/flex warehouse and distribution facilities surrounded by Homestead Road, Stryker Lane and Raider Blvd in Somerset County’s Hillsborough.
