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.

Industrial
Logistics firm leases 253,000 sq. ft. at Gloucester County industrial building

A warehouse and trucking company has taken more than 250,000 square feet of modern industrial space in Gloucester County, brokers with CBRE announced Wednesday.

Editor’s Note
Taking the lead

Industrial space may well be the new darling of commercial real estate. Yet, as we’ve seen recently in New Jersey, it’s also now the biggest target for the type of fierce local opposition that was long reserved for apartment builders.

Industrial
Diversified begins construction on 495-unit self-storage project in Orange County

Diversified Properties has started construction on a seven-building, 495-unit self-storage facility in New York’s Orange County, about 35 miles north of the New Jersey border.

Industrial
CBRE: Industrial demand, occupancy gains still strong despite slowdown from historic highs

Demand for industrial space is still robust in New Jersey despite concerns about the economy, as rents and occupancy grew in 2022 even amid a slowdown from prior years.

Deals
BRC: Investor completes 1031 exchange after $37 million industrial sale in Bridgewater

A firm that recently sold a five-building industrial complex in Bridgewater has acquired a retail center in the Southeast as part of a Section 1031 like-kind exchange.

Professional Services
Steady hands: How Genova Burns is helping real estate clients navigate rising rates, market shifts

Genova Burns, home to one of the state’s most prominent real estate practices, is as busy and as integral to the industry as it was before the pandemic and before the Federal Reserve began to raise interest rates last year. Increasingly, though, the Newark-based firm is helping clients either play defense or guide them through this period of uncertainty.

Finance & Capital Markets
JLL suburban tristate capital markets team inks $4.7 billion in 2022 sales

Brokers with JLL’s suburban tristate capital markets team are forecasting a busy 2023 after a year in which they completed some $4.7 billion in sale transactions.

Industrial
Lowe’s preleases 103,000 sq. ft. Hamilton warehouse project, Corporate America Realty says

Lowe’s Home Centers Inc. has leased more than 100,000 square feet of new industrial space in Hamilton, filling the second piece of a speculative development near Interstate 295.

Industrial
JLL: Rockefeller sells 454,000 sq. ft. Lehigh Valley warehouse to Link for $91 million

Rockefeller Group has sold a nearly 454,000-square-foot industrial building in Pennsylvania’s Lehigh Valley for $91 million, in a newly announced deal by JLL.

Industrial
Private investor buys 33,000 sq. ft. Hasbrouck Heights industrial building

A private investor has purchased a fully leased, 33,000-square-foot industrial building in Hasbrouck Heights, in a deal arranged by NAI James E. Hanson.