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
JLL: Investor adds 101,000 sq. ft. Piscataway warehouse in $26.5 million sale-leaseback

A private investor has purchased more than 100,000 square feet of industrial space in Piscataway, in a sale-leaseback valued at $26.5 million.

Industrial
CBRE: Faropoint buys 119,000 sq. ft. light industrial building in Swedesboro for $13 million

Faropoint has acquired a 119,000-square-foot light industrial building in Gloucester County for more than $13 million, brokers with CBRE announced Wednesday.

Industrial
BLP acquires 202,000 sq. ft. Meadowlands warehouse, in Leo Josephs-brokered deal

Bridge Logistics Properties has added to its New Jersey portfolio with its purchase of a 202,000-square-foot warehouse in Bergen County, in a deal arranged by Leo Josephs & Co. Inc.

Industrial
Gold’s Gym operator inks 43,000 sq. ft. renewal in Teterboro, NAI Hanson says

The operator of a Gold’s Gym has renewed its nearly 43,000-square-foot lease at a Teterboro flex property, according to brokers with NAI James E. Hanson.

Government & Public Policy
Demand for studio space still growing in New Jersey, as officials move to expand opportunities

New Jersey’s fast-growing film and television industry has created a boom in studio construction and a new market for commercial spaces that can serve as set locations, as state officials take new steps to help more municipalities reap the benefits.

Government & Public Policy
Greek scraps implosion of ex-Nabisco tower in Fair Lawn, plans alternative method for demo

Greek Development has called off its plan to implode the remaining piece of the former Nabisco factory complex in Fair Lawn, the site of a planned ground-up distribution center, following several months of concerns by residents about the potential environmental impact.

Industrial
STRO fills Union warehouse, inking 12,000 sq. ft. lease with Rise Against Hunger

The STRO Cos. has leased nearly 12,000 square feet at a Union Township industrial building to a nonprofit focused on addressing global hunger.

Top News
Mondelēz unveils new $50 million R&D center at 150,000 sq. ft. Whippany building

Mondelēz International Inc. has opened a new $50 million research and development facility in Morris County, where it will look to enhance production, processing and packaging for popular snacks such as Oreos and Ritz crackers.

Professional Services
REDCOM names new CEO, eyeing continued expansion

REDCOM has named a new CEO as part of a larger plan to expand the Westfield-based design-build engineering, architecture and contracting firm.

Industrial
Ridgecut, Marcus Partners acquire low-coverage industrial service property in South Plainfield

A partnership has acquired a South Plainfield industrial property that it’s now marketing to tenants, seeking to leverage the site’s low coverage and proximity to Interstate 287.