From left: Hartz Mountain CEO Leonard Stein and a rendering of the Lincoln Harbor rental developmentA stagnant office market in New Jersey has led to residential development along the state’s Hudson River waterfront, where builders lure Manhattan workers with luxury amenities at cheaper prices. According to the Wall Street Journal, the struggling commercial market was precisely what led developer Hartz Mountain Industries to push to rezone the Lincoln Harbor waterfront land it has owned for 30 years in Weehawken, N.J. in order to erect a massive rental complex.

Since 1981, when it purchased the plot of land near the base of the Lincoln Tunnel, the developer has brought 2 million square feet of commercial space. [more]

Panasonic’s current North American headquarters in Secaucus, N.J.

Panasonic has signed on to move its corporate North American headquarters to Newark, taking advantage of $102.4 million in state subsidies and rebuffing efforts by New York City officials to lure the company to Downtown Brooklyn, according to Crain’s. The subsidy package requires Panasonic, which is currently housed in Secaucus, to add 250 employees to the 950 it already has in the state over the next 10 years. New Jersey has been aggressively pursuing big tenants through the promise of tax incentives in recent months, among them, the city’s Hunts Point produce market. [more]

The leasing office at Monaco — Jersey City’s latest new residential tower and the tallest rental building in New Jersey — is slated to open in February, development team Roseland Property, Garden State Development and Hartz Mountain Industries has announced. The 523-unit, 50-story project consists of two towers designed by SLCE Architects, which are scheduled for completion in early spring, when they’ll eclipse the LeFrak Organization’s nearby Towers of America complex as the tallest rentals in the state. TRD [more]

New York University,
which has a long-term expansion plan in the works, is giving up two
floors
at 38-50 Cooper Square. NYU will vacate the 46,000 square feet of space
in July 2011. NYU has been leasing it for 23 years, and the space is
currently
carved into 34 classrooms, offices and lounges for the university’s
School of Continuing Education. The building owner Hartz Mountain
Industries is now looking for another education tenant. NYU is expected
to unveil its long-term growth plans, which Greenwich Village residents
have been fighting, in the fall. [more]