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Building owner Emerita USA has hired the brokerage firm to help roll out an action plan to improve efficiency and operation of the historic 592,000-square-foot brick and limestone office tower as part of its reintroduction and rebranding.
Following the proptech company's recent $90 million fundraising round, insiders discuss how the software could reduce commissions and demand more from brokers.
Belvoir has a good sense for where leases are getting signed today, so it underwrote the purchase accordingly, and the increased leasing activity validated that its assumptions were in line with the market.
Cross River Bank, which had been considering relocating its headquarters to a facility in Orangeburg, NY, did receive a Grow NJ grant in connection with the purchase.
The tight job market is also putting pressure on wages because small firms experience a double whammy as bigger firms can pay more putting even greater pressure on what tiny companies can afford.