PARSIPPANY, NJ—New Jersey's office market recorded its best annual year-over-year vacancy rate improvement in 10 years in 2014, according to Transwestern's Fourth-Quarter 2014 Office Market report. Matthew Dolly, research director for Transwestern's New Jersey office, says industries that fill office space are still not getting sufficient job growth to keep the office market moving forward.

PHILADELPHIA, PA—Peter Finley, formerly head of capital markets at Paramount Group, has joined Lowe Enterprises Investors as senior vice president to lead the firm's marketing and business development efforts. Finley will be headquartered in Philadelphia, with national responsibilities, the firm says. He will maintain and expand client and consultant relationships and assist with the development of new investment products and strategies.

HASBROUCK HEIGHTS, NJ—The rebirth of the Morristown market through multifamily developments such as Roseland's Metropolitan at 40 Park and The Residences at Vail Mansion, were part of the focus of the “Real Property Roundtable: All Eyes on Multi-Family!” hosted by the Commerce and Industry Association of New Jersey on January 23 at the Hilton Hotel in Hasbrouck Heights, NJ.

EATONTOWN, NJ—Jones Lang LaSalle has completed a full-building lease transaction for Festo Didactic at 607 Industrial Way West in Eatontown, NJ The industrial education equipment and solution provider leased the entire 55,000-square-foot, Class A office property for five years from building owner The Donato Group.

CHATHAM, NJ–DTZ's Fourth Quarter 2014 Industrial Market Snapshot for Northern and Central New Jersey records robust numbers for Northern and Central New Jersey industrial markets, with strong positive absorption, including the best absorption in Northern Jersey since 2013.

PHILADELPHIA, PA—With the US government's recent moves to relax tensions with Cuba, the entire Caribbean region is getting new attention as investment opportunities for commercial real estate development expand, particularly in the hospitality sector, according to Alejandro (Alex) Zozaya, chief executive officer of Apple Leisure Group, holding company for a number of vertically integrated hospitality companies. Listen to our exclusive audio interview.

KING OF PRUSSIA, PA—Willner Properties recently finalized two new leases at Springfield Plaza located at 130 South State Road in Springfield, PA. Moore Eye Institute and the Institute of Spine and Pelvic Pain Interventions & Rehabilitation leased a total of more than 3,600 square feet. Springfield Plaza recently completed a capital improvement project that features refreshed common areas, signage upgrades and a new roof.

EDGEWATER, NJ—Late news reports on NJ.com last night said New Jersey Gov. Christie and local officials were blaming the fire at Avalonbay Communities' Avalon at Edgewateron maintenance workers using a blowtorch to perform plumbing work. Edgewater's fire chief reportedly said the complex's wooden construction made the fire spread more quickly, but the company defended its construction as "standard, common, and safe," and "in accordance with the fire and safety codes applicable" at the time it was built.