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"Clearly this is a pivotal event, not only for our company, but also for the competitive landscape in our region," says David Grove, managing director at Lee & Associates.

Court Plaza North is one of three buildings that make up Court Plaza, a 335,000-square-foot Class-A office complex located at 19/21/25 Main St. in Hackensack.

Temasek and certain institutional clients of Guggenheim Investments partnered with Eastdil on the deal, leaving Well Fargo to retain a minority ownership interest in the company.

The center, which will be based on the university's campus in Urbana-Champaign, will serve as a global hub for the technology that will drive the manufacturing plants, medical environments, autonomous vehicles and smart homes of the future.

The new initiative will explore developing under-utilized properties that can bolster transit-oriented development and optimize the value of assets across the state.

In the past eight weeks, Gebroe-Hammer has brokered deals involving more than 1,300 units in the Eastern section of Essex County.

The opening of the Industrious location at the open-air Esplanade at Aventura is scheduled for the second quarter of 2020.

The proposed plan encompasses 2.6 million SF of the firm's 6.9 million-SF future development pipeline in the area.