CHATHAM, NJ–A three-person team at Cassidy Turley has negotiated 14 leases totaling more than 200,000 square feet since the start of 2014 – and they see it as a sign of overall progress in the office market.
Raymond P. Trevisan, William O'Keefe and Kelsey Nakamura tell GlobeSt.com that they see a general uptick in leasing in New Jersey for the same reasons the market improved last year.
“The uptick in leasing velocity reflects the growth and flight to quality,” says O'Keefe. “As New Jersey's economy grows stronger, we should see greater and more consistent absorption throughout the state and not just in certain submarkets.”
The CT team represented the tenant in six of the most recent transactions that accounted for a total of 110,000 square feet. Clients included the law firm of Lewis Brisbois taking space at One Riverfront Plaza in Newark, Heritage Abstract Company at 350 Mt Kemble Ave. in Morristown and Essential Pharmaceuticals at 100 Princeton South in Ewing.
The team represented owners in eight other transactions totaling 90,000 square feet. Lease deals at 26 Main Street in Chatham with tenants Theorem and RM Squared brought that property to 100% occupied.
Other transactions include S. Goldberg & Co. at Riverview Office Center in Hackensack, Techno-Comp and The North Highland Company at 25 Independence Blvd. and AgreeYa Solutions at 20 Independence Blvd., in Warren.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
