A logistics firm has renewed its 74,368-square-foot lease at a Teterboro industrial building, according to brokers with Colliers International Group.
A landlord has sold a six-building industrial portfolio in Morris County for $34 million, according to executives with Newmark Associates.
A major source of excitement for those who make a living in the industrial business is the rise of e-commerce tenants and many others who need to be close to population centers represent actual growth in New Jersey’s economy. That means new businesses, new jobs and new requirements that aren’t simply backfilling someone else’s space, given that the tenants that have been here for decades aren’t going anywhere themselves.
A squash training facility will be the latest tenant at a four-building industrial park in Mercer County, following a 5,000-square-foot lease brokered by Transwestern.
CBRE Group Inc. has brokered the sale of a two-year-old, 156,256-square-foot industrial building in Teterboro, the real estate services firm said.
In a state where available industrial space is already in short supply due to our exploding e-commerce sector, asking prices and rents for older and smaller industrial buildings may soon be rising dramatically. Also on the rise will be demand for the power needed to fuel plant growth and maintain proper growing conditions.
A recent event hosted by the New Jersey chapter of the Society of Industrial and Office Realtors focused on maximizing commercial real estate income.
During his more than 25 years with Lincoln Equities Group — including a full decade as its top executive — Joel Bergstein has seen plenty of changes in the commercial real estate sector.
The Stro Cos. has leased 34,300 square feet in Lincoln Park to a logistics firm focused on so-called last-mile delivery services, the landlord announced Monday.
Running from the crossroads of Edison to the New York State border, the 70-mile stretch of Interstate 287 is an active but sometimes-overlooked piece of the state’s industrial market. That corridor has not only grown considerably in recent years, but is in line for continued interest from developers, tenants and investors as an alternative to the booming big-box markets along the New Jersey Turnpike.