NAI Fennelly on Thursday said it closed 110,534 square feet in office leases and sales in central New Jersey over the first half of 2022.
Since the start of the pandemic, NAI Fennelly’s Jerry Fennelly, Matthew Fennelly and Patrick Dintrone have been working closely with office owners and tenants to provide the experience-backed counsel and local market data they need to find success in an increasingly challenging office leasing environment. As companies continue to navigate return to the work challenges, NAI Fennelly’s understanding of the central New Jersey and eastern Pennsylvania markets and vast relationships throughout the area have been critical resources for its clients.
Among the leases negotiated throughout 2022 are a 3,750-square-foot lease with CrossState Credit Union Association at 2000 Waterview Drive in Hamilton and a 2,600-square-foot lease with Inceptua Group at Princeton Forrestal Village in Plainsboro Township. Highlighting the firm’s sales activity was its negotiation of a $3.8 million sale of a 27,863-square-foot flex/office building at 22 Abeel Road in Monroe Township to Aplomb Technologies.
“Today’s office market is among one of the most complex I have ever seen in my decades-long career,” Jerry Fennelly, president of NAI Fennelly, stated. “The search for spaces that provide the combination of in-demand amenities, highly respected ownership and great locations has continued to drive activity throughout suburban markets as workers make their way back to the office.
“However, in today’s environment, tenants and landlords continue to face unique challenges in their respective office space decisions, making it even more critical that they work with an experienced real estate services team to help them find the solutions that align with their business goals.”