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Nearly any business can find benefits to outsourcing its mission critical data to a third-party data center infrastructure management (DCIM) solution – including better utility rates; 24/7 uptime agreements; offloaded site real estate; operational vs. capital expense; quick disaster recovery; and moving back from data maintenance to a...
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While the future of brick-and-mortar retailers is decidedly uncertain, undesirable locations are likely to suffer as the market transforms, while well-located properties that can attract “experiential” retailers will thrive.
This was one of the key takeaways shared by industry experts at NAIOP New Jersey’s June 6 chapter...
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Prism Capital Partners has sold 339 Jefferson Road in Parsippany to Mane USA. A worldwide leader in the fragrance and flavor industry, the French company will relocate its U.S. headquarters to the Class A office property from Wayne as owner/occupier.
Prism’s in-house construction team currently is fitting out Mane USA’s...
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Colliers International Group Inc. has brokered a long-term lease renewal to secure French’s Food Company, a Reckitt Benckiser Group brand, as the sole tenant at 2-4 Mill Ridge Lane in Chester. The 32,000-square-foot building serves as the company’s global headquarters.
“The property’s owner, VEREIT, Inc., retained us for this...
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Charles J. Hatfield, a leading New Jersey office real estate executive who represents clients globally as well as throughout the U.S., has joined Colliers International Group Inc., David A. Simon, SIOR, executive managing director, announced. Hatfield will focus primarily on tenant representation and agency leasing and will be based in...
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More than 800 members of the New Jersey commercial real estate community turned out to celebrate the industry at NAIOP New Jersey’s 30th Annual Awards Gala on May 11. The black tie event, held at the Palace at Somerset Park, recognized the achievements of leading professionals and organizations and the state’s most impactful...
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Weiss Realty, a leading commercial real estate brokerage firm, announced it has arranged the sale of the 11,726-square-foot former La Furniture Warehouse store in Newark. An investment entity affiliated with Weiss Realty in partnership with CHT Group of Englewood Cliffs acquired the property located at 262-270 Broad Street, according to...
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NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced it has negotiated a lease for 13,000 square feet of industrial space at 70 Triangle Boulevard in Carlstadt, to Cavalli Cabinets. NAI Hanson’s Russell Verducci and Eric Demmers represented the lessee, Cavalli Cabinets, in the...
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NAI James E. Hanson, a New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of a 27,248-square-foot industrial/flex building located at 6 Aspen Drive in Randolph. NAI Hanson’s Barry Cohorsky, SIOR, Josh Levering, SIOR, and James Kenah represented the seller, Aspen-smith, LLC, in the...
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Cushman & Wakefield has announced that the firm was exclusively selected to market the former Chubb Insurance headquarters campus, a prime 535,000-square-foot headquarters campus in Warren Township.
ACE Limited’s 2015 acquisition of Chubb rendered 15 Mountainview Road as surplus space. According to Cushman & Wakefield’s...
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Office space in New Jersey is being absorbed at a level unseen since prior to the recession, buoyed by significant activity in markets with proximity to New York City – most specifically on the Hudson Waterfront and near the George Washington Bridge – according to Transwestern’s First-Quarter 2017 Office Market...
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Somerset Development announced a new lease agreement with The Guardian Life Insurance Company of America® (Guardian), one of the nation’s largest mutual life insurers and a leading provider of employee benefits, who will occupy 90,000 square feet at Bell Works, the revitalization of the renowned two-million-square-foot Bell...
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Mack-Cali Realty Corporation announced that President Michael J. DeMarco will assume the title of chief executive officer of the company and Mitchell Rudin will become vice chairman effective immediately. Marshall Tycher will continue as chairman of Roseland Residential Trust, Mack-Cali’s residential subsidiary.
Mr. DeMarco, chief...
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After posting its best year in terms of absorption in recent history, the Northern and Central New Jersey office market experienced a slight setback during the first quarter of 2017, but remained healthy as a whole to start the year, according to Cushman & Wakefield. While dispositions outpaced demand in the first quarter and some...
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Holliday Fenoglio Fowler, L.P. (HFF) announced that it has secured $124.5 million in financing for 51, 101 and 103 JFK Parkway in Short Hills.
Working on behalf of the borrower, Mack-Cali Realty Corporation, HFF placed the 10-year, fixed-rate loan through Citi and Goldman Sachs & Co. Loan proceeds were used to acquire the...
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