Industrial

Owning or leasing industrial space in New Jersey means you’re within one day’s drive of one-third of the nation’s population. That means the state continues to be a hotbed of warehouse and logistics activity.

Government & Public Policy
Beating the clock: Rooftop solar developers, landlords race to lock in projects as federal tax credit nears sunset

A key federal incentive for solar projects is due to expire in just over a week, a change that will have major cost implications for an asset class that has become a growing source of revenue for commercial real estate landlords in New Jersey.

Industrial
Terreno inks 92,000 sq. ft. lease in Kearny with undisclosed 3PL firm

Terreno Realty Corp. has filled 92,000 square feet of industrial space in Kearny after securing a lease with a third-party logistics provider, the company announced this week.

Finance & Capital Markets
Basis Industrial lands $24 million construction loan for long-awaited Wayne self-storage project

A developer has closed on a $24 million construction loan for a project that will bring a new 586-unit self-storage facility to Wayne, the firm announced last week.

Industrial
Deugen flips Cranbury IOS site after securing key entitlements for 16-acre property

Deugen Investment Group has sold a 16.1-acre industrial outdoor storage property in Cranbury, inking the deal less than a year after acquiring it with an eye toward enhancing the site’s zoning.

Industrial
GSA sets Aug. 4 auction for 810,000 sq. ft. industrial complex in Somerville

The federal government is gearing up to sell more than 800,000 square feet of industrial space in Somerville as part of an upcoming auction by the U.S. General Services Administration.

Industrial
Greek teams with Hampshire, Principal for 281,000 sq. ft. warehouse project in Parsippany

A joint venture is set to break ground on more than 281,000 square feet of new industrial space in Parsippany, in a project that will revitalize another former office property in the township.

Finance & Capital Markets
Deugen inks $31 million loan with Axonic for office-to-industrial project in Parsippany

Deugen Development has landed nearly $31 million in financing to acquire and raze an aging office building in Parsippany that it plans to redevelop as a 340,000-square-foot warehouse.

Industrial
C&W: Investor grabs 32,000 sq. ft. South Plainfield industrial building for $3.8 million

The site of a nearly 32,000-square-foot former GE Healthcare facility in South Plainfield has traded for $3.8 million, brokers with Cushman & Wakefield announced Wednesday.

Industrial
RRNNJ: Fairfield industrial building fully leased after deals with floral supplier, construction firm

The owner of a Fairfield industrial building has secured two new leases, filling more than 20,000 square feet in a set of deals arranged by Resource Realty of Northern New Jersey.

Industrial
Food manufacturer, distributor buys 6,000 sq. ft. Middlesex facility for $3.2 million, BRC says

A food production facility in Middlesex Borough has changed hands for $3.2 million, providing what brokers say is a turnkey commercial kitchen for its new owner.