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Where Are Core Office Deals in NJ? Anyone?

NEWARK, NJ-Northmarq Capital's Greg Nalbandian said at a RealShare conference here that when he looks for comps on mid-range office deals to show to potential investors, he can't find any.

By Antoinette Martin | Updated on May 30, 2014

NEWARK, NJ−At the RealShare conference here last week, HFF’s Jose Cruz gave a vivid account of investor frenzy that broke out over the recent sale of the Wyndham Worldwide headquarters office building  in Parsippany:  “Three rounds of bidding, six finalists, with a variety of investors staying in the hunt – REITS, pension funds, Israeli investors, insurance companies.”

His fellow panelists congratulated Cruz on a sale that priced out at $400 per square foot. Then, NorthMarq Capital‘s Greg Nalbandian brought the discussion on “Opportunities in Investment and Finance” back to earth.

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