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.

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No slowing down: Growth of e-commerce, last mile delivery and the densest state in America

The New Jersey industrial market has continued on its historic pace with vacancy rates dropping below 3 percent across the state. This has been driven by the unprecedented demand from online retailers and e-commerce-driven businesses desperate for warehousing and “last mile” distribution. E-commerce had already been on a rapid ascent for years with its share of the total retail market more than quadrupling since 2010. With the pandemic shuttering most brick-and-mortar locations for the better portion of 2020, e-commerce had taken on another level of growth. According to the U.S. Department of Commerce, sales increased 31.73 percent year over year, the fastest growth rate in 10 years, nearly doubling the second-highest growth rate of 17.81 percent in 2011.

Industrial
NAI Hanson: Trucking firm, bath fixture business lease 42,000 sq. ft. in Secaucus

Two tenants have leased a combined 42,000 square at a Secaucus industrial building, in a set of newly announced transactions by NAI James E. Hanson.

Industrial
Brooklyn-based restaurant supplier buys 71,000 sq. ft. Pennsauken warehouse

A restaurant supplier is expanding its footprint with its purchase of more than 71,000 square feet of industrial space in Pennsauken, according to brokers with Colliers International.

Industrial
Solar Landscape, Duke unveil rooftop system powering 375 homes in North Jersey

An industrial owner and a developer of solar panel systems have teamed up on another project in New Jersey, unveiling a new installation atop a Wood-Ridge distribution center.

Industrial
Terreno adds Meadowlands industrial property for $17.9 million

Terreno Realty Corp. has added to its New Jersey industrial holdings with the acquisition of a nearly five-acre parcel in Carlstadt.

Industrial
Landlord taps Mertz as leasing agent for 246,000 sq. ft. industrial building in Salem

The owner of nearly 250,000 square feet of industrial space in northern Salem County has picked NAI Mertz as its leasing agent at the property.

Industrial
JLL: Buyer wanted for two-building, 81,000 sq. ft. industrial portfolio in Meadowlands

The owner of two Meadowlands industrial buildings has listed them for sale, in an offering that includes a vacant, newly renovated property and another that was recently leased.

Industrial
Kearny industrial building trades for $21 million, Marcus says

An investor has acquired a 135,000-square-foot industrial building in Kearny for more than $21 million, in a newly announced transaction by Marcus & Millichap.

Industrial
Two-building, 536,000 sq. ft. industrial portfolio sold for $107 million

A developer has reaped more than $107 million from its sale of two newly built industrial properties in southern New Jersey, in a deal arranged by brokers with JLL.

Industrial
Key Properties, flavor company ink 12,000 sq. ft. renewal at Meadowlands warehouse

Key Properties has completed a 12,000-square-foot lease renewal at a Carlstadt industrial building, the longtime home of a flavor compound company.