NEW JERSEY—Bergman Real Estate Group completed 61 lease transactions throughout 2012, comprised of 70 percent new tenant transactions and 30 percent lease renewals and expansions for a total of 240,246 sq. ft. The aggregate rent value of the transactions exceeded $22 million.
In addition to its leasing activity, Berman acquired three properties within the year, including 51 Haddonfield Road in Cherry Hill; 155 Passaic Ave. in Fairfield; and Aspen Corporate Center in Woodbridge.
“This year’s results are an excellent indicator of an improving office market in New Jersey,” said Michael Bergman, president and CEO of Bergman Real Estate Group. “Seeing positive absorption throughout most of our portfolio is extremely encouraging for Bergman Real Estate and the local commercial real estate market as a whole. On the acquisition front, we will continue to seek out well located, value added suburban office and medical office properties, as prices continue to be attractive.”