New Jersey's office market recorded nearly 10 million square feet of positive absorption during the final seven years of the 2010s, Transwestern stated in its Fourth Quarter 2019 Office Market Report for New Jersey.

NJEDA managing director of business development Paul Ceppi said at the event staged on Jan. 17 that the transportation-logistics sector accounts for nearly 200,000 private sector jobs and $23 billion into the economy.

The new ownership states that while the acquisition will provide immediate cash flow, Merion's investment strategy includes the implementation of a value-add strategy including: unit interior upgrades, clubhouse and common area refresh, LED lighting upgrades, and property amenity upgrades.

Eliadis most recently served at Walgreen Co. for nine years in the real estate and finance divisions. His appointment follows the October 2019 hiring of CEO Joe Brady, who previously had served as divisional VP for real estate at Walgreen Co.

Another key component of the program is to train Individuals for in-demand jobs by connecting educational and training programs to industry needs and preparing adults for high-quality jobs throughout their entire careers.

Its year-end transactions included a $10-million loan to finance the reconstruction of Seaside Heights' historic Belle-Freeman Pier, which was destroyed by Superstorm Sandy and a subsequent fire.

The 184,643 square-foot complex is presently 94% leased to a 38-tenant roster and has recently benefitted from common area upgrades and building improvements totaling nearly $5 million, according to Newmark Knight Frank.

Nevins, who will be the first woman to serve in the position in the PIDC's 60-year history, will take on the new post on Jan. 27 and will replace current PIDC president John Grady.