As buildings age, the office spaces within are less likely to be equipped to accommodate these evolving workplace trends so some landlords are finding themselves at a disadvantage when it comes to marketing their properties. However, we are noticing a growing trend where landlords are pursuing major renovations to facilities when clients are willing to enter into longer term leases.
As evidenced by our recent $6 million lease with Sanitas Medical Center at Kennedy Center located on JFK Blvd. in Union City, some clients, particularly in the healthcare industry, are looking for substantial landlord improvement packages and in turn are prepared to enter into long term commitments.
This trend will undoubtedly improve the inventory of office space in the Meadowlands and lend to further stability of the region’s office market.
by MeadowLands USA (meadowlands.org)
Weiss Realty Co. Inc. Is a diversified real estate services and investment organization headquartered in Moonachie, New Jersey. The company operates throughout the New York/New Jersey metropolitan region and in select markets across the country. Under the leadership of Jaime and Matthew Weiss, the firm has assembled a national portfolio of more than 3 million sq. ft. of office, industrial and retail property, and completed transactions totaling more than 2 million sq. ft. having represented many prominent corporations and real estate developers including Sony, North Fork Bank, Hartz Mountain Industries, The Mack Company, The Mattone Development Group, Bridgestone/Firestone, Caterpillar, Starbucks, CVS, Walgreens and CarePoint Health Medical Group to name a few. Visit www.jweissrealty.com for more information or call (201) 814-1800.