MADISON, N.J. — Kelley Drye & Warren LLP has signed a 17,260-square-foot office lease in the Northern New Jersey community of Madison. The law firm is relocating from nearby Parsippany to Giralda Farms, a 1.3 million-square-foot corporate campus. Nick Savage and Greg Barkan of CBRE represented the tenant in the lease negotiations. Joshua Cohen and Bill Brown of Cushman & Wakefield represented the landlord, a partnership between Bergman Real Estate Group and Eightfold Real Estate Capital.
SAN FRANCISCO — Employers around the country are monitoring modern office trends as the country’s return-to-office (RTO) movement gains some momentum. Envoy, a San Francisco-based tech company specializing in workplace solutions for office workers and their clients, has produced its annual Workplace Predictions report, which found that the U.S. office sector is a “workplace in flux.” The company surveyed nearly 500 executives from across various roles, including HR, IT and management, as well as across generations — from Gen Z to baby boomers — to collate the data. Envoy partnered with Hanover Research for the report. The Workplace Predictions survey found that participants expect for emerging technologies such as AI and machine learning to play a key role in reshaping office environments — both physical and virtual — moving forward. Another key finding is that different generations of office workers have different needs when it comes to how they value their physical office environments. Larry Gadea, founder and CEO at Envoy, said that modern workplaces are “rapidly evolving,” thus the findings from this report are “critical” for companies that are rethinking how to boost morale, work culture and employee engagement at the property level. “The conversation about the workplace of tomorrow …
MADISON, N.J. — Saiber Law has signed a 34,390-square-foot office lease in the Northern New Jersey community of Madison. The law firm is relocating from nearby Florham Park to Giralda Farms, a 1.3 million-square-foot corporate campus. Richard Baumstein and Edward Duenas of Cushman & Wakefield represented the tenant in the lease negotiations. Joshua Cohen and Bill Brown, also with Cushman & Wakefield, represented the landlord, a partnership between Bergman Real Estate Group and Eightfold Real Estate Capital.
Raleigh-Durham’s office market entered the year on a positive note as 2024 ended strong. Vacancy was largely flat in the fourth quarter, net absorption neared 300,000 square feet and move-outs were sparse. After years of uncertainty and short-term renewals dominating the landscape, companies are now committing to longer leases. Clarity around business drivers, a growing labor pool and new market entrants are all contributing factors to this decisive turn. Firms are confidently making long-term real estate decisions, bringing lease terms back to the five- to 10-year range. While the vibrancy of the pre-pandemic era has not fully returned, data shows a steady recovery throughout 2024, and 2025 is poised to bring even stronger growth. In 2024, Raleigh-Durham welcomed several notable commitments from companies establishing a foothold in the market, like Jewelers Mutual, JTL and Amgen. Leasing activity stayed strong through the fourth quarter, supporting the net absorption of nearly 160,000 square feet of office space over the course of the year. Rents have seen some downward corrections overall, but well-located, highly amenitized assets have retained rent stability. Recent recommitments from major companies like Nutanix and Hitachi highlight the area’s enduring appeal. Vacancy closed out December at 17.3 percent but was …
HOUSTON — JLL has brokered the sale of 515 Post Oak, a 274,583-square-foot office building in Houston’s Galleria neighborhood. The building was originally constructed in the 1980s on a 3.2-acre site and offers amenities such as a fitness center, tenant lounge/game room, café and technology equipped conference areas. Jeff Hollinden and Kevin McConn of JLL represented the seller, New York Life Real Estate Investors, in the transaction and procured the buyer, Dallas-based investment firm EY Ventures LLC. The building was 74 percent leased at the time of sale.
FRISCO, TEXAS — Veritex Community Bank will open a new office and retail branch in Frisco. The building will span 40,000 square feet, and Veritex will occupy the ground floor, while the remainder of the space will be leased to other tenants. Amenities will include a golf simulator and putting areas, a nod to the building’s proximity to the PGA of America’s headquarters campus. The building will also house a boardroom and training areas. Locally based firm Cawley Partners is leading development of the project. The general contractor, Scott + Reid, plans to begin construction before the end of the month. Completion is slated for early 2026.
MADISON, N.J. — Riker Danzig LLP has signed a 45,500-square-foot office headquarters lease in the Northern New Jersey community of Madison. The law firm is relocating from nearby Morristown to Giralda Farms, a 1.3 million-square-foot corporate campus. Marc Rosenberg of Cushman & Wakefield represented the tenant in the lease negotiations. Joshua Cohen and Bill Brown, also with Cushman & Wakefield, represented the landlord, a partnership between Bergman Real Estate Group and Eightfold Real Estate Capital.
DALLAS — Three tenants — Legacy Knight, Commit Consulting and Mitsui Fudosan America — have signed office leases at Maple Terrace, a mixed-use development in Uptown Dallas. The square footages were not disclosed. Maple Terrace features a 157,000-square-foot office building, a 22-story apartment building and retail and restaurant space. Matt Schendle and Carrie Halbrooks of Cushman & Wakefield represented the landlord, Mitsui Fudosan, which owns Maple Terrace in partnership with McNair Interests and Hines, in the lease negotiations. Grant Henson and Ryan Collier of Rockcap Co. represented Legacy Knight. Jakey Younger of Citadel Partners represented Commit Consulting.
PHILADELPHIA — FS Investments has signed a 117,000-square-foot office headquarters lease in the Schuylkill Yards mixed-use development in Philadelphia. The locally based alternative asset manager will relocate and expand from an 80,000-square-foot space at the Philadelphia Navy Yard, where it has been a tenant since 2015, to the mixed-use building at 3025 JFK Blvd. Tactix Real Estate Advisors represented FS Investments in the negotiations for the 16-year lease. The landlord, locally based REIT Brandywine Realty Trust, was self-represented.
NORTH ANDOVER, MASS. — Marcus & Millichap has brokered the $4.8 million sale of a 30,855-square-foot industrial flex building located outside of Boston in North Andover. Completed in 1997, the building at 45 Beechwood Drive features 11,500 square feet of office space and 19,355 square feet of warehouse space, as well as two loading docks, one drive-in bay and a clear height of 14 feet. Mattias Edenkrans, Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which were private entities that requested anonymity, in the transaction..