NAI Fennelly continues to find success in a challenging office market
NAI Fennel On Thursday, it announced it had closed 110,534 square feet of office leases and sales in central New Jersey in the first half of 2022.
Since the start of the pandemic, NAI Fennelly’s Jerry Fennelly, Matthew Fennelly and Patrick Dintrone have worked closely with office landlords and tenants to provide the experience-based advice and local market data they need. to succeed in an increasingly challenging office rental environment. As businesses continue to navigate the challenges of returning to work, NAI Fennelly’s understanding of the central New Jersey and eastern Pennsylvania markets and extensive relationships throughout the region have been critical resources for its clients. .
Among the leases negotiated throughout 2022 are a 3,750 square foot lease with the 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. The company’s sale activity was highlighted by the negotiation of a $3.8 million sale of a 27,863 square foot flex/office building at 22 Abeel Road in Monroe Township in Aplomb. Technologies.
“Today’s office market is one of the most complex I have seen in my decades of career,” said Jerry Fennelly, president of NAI Fennelly. “The search for space that offers the combination of sought-after amenities, well-respected ownership and excellent locations has continued to drive activity in suburban markets as workers return to the office.
“However, in the current environment, tenants and landlords continue to face unique challenges in their respective office space decisions, making it even more essential that they work with an experienced services team. real estate to help them find the solutions that align with their business goals.”