New Jersey

With its mix of office and flex space, the park provides flexibility with buildings that range in size from 20,000 to 80,000 square feet.

Kislak's Joni Sweetwood says the sale reflects a current market trend in which “owners are improving urban properties to a level that surpasses even properties in 'high-end' towns.”

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

“Prospect Place represents the right mix of infill Northern New Jersey multifamily product with renovation upside,” HFF's José Cruz says.

“The I-78 corridor, particularly at Exit 33, remains of interest to globally recognized companies seeking quality office space near amenities and conveniences,” says Cushman & Wakefield's Frank DiTommaso II.

Due to strong leasing activity throughout most of the key submarkets, overall industrial vacancy in Northern and Central New Jersey fell another 20 basis points to 3.6 percent.

In this Q&A, Chris Mavros and Jon Leifer of Case Real Estate Capital take a look at how lending competition and borrower appetites are being affected by the economy, and how the aging baby boomer generation is creating opportunities in the market.

Rutgers Industrial Centers' prime location and superior highway access drove R&J Warehouse's interest in the 140 Circle Drive North lease opportunity, says Levin Management's Robert Carson.