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
City agency OKs pact to bring 471,000 sq. ft. warehouse, open space to key Perth Amboy site

A large piece of Perth Amboy’s waterfront is slated to become more than 470,000 square feet of modern warehouse space, recreation space and pad-ready development sites near the city’s downtown, under a plan to clean up and revitalize the long-vacant industrial parcel.

Industrial
Sitex Group acquires 640,000 sq. ft. Zuckerberg’s Industrial Park in Saddle Brook

Sitex Group has acquired a 50-building, 640,000-square-foot industrial park in Saddle Brook, marking the first sale of the campus since its development began nearly a century ago.

Industrial
BRC: Auto export firm expands to Baltimore, leases 2.7-acre industrial property

An automobile exporter has leased a 2.7-acre industrial property near the Port of Baltimore, in a newly announced deal by Bussel Realty Corp.

Industrial
CBRE: Global Courier Express takes 160,000 sq. ft. at Kearny Point

A shipping and logistics company has leased more than 160,000 square feet across two buildings at Hugo Neu’s Kearny Point Industrial Park, brokers with CBRE announced Friday.

Community
Lee & Associates N.J. donates backpacks, school supplies to United Way of Passaic County

Brokers and staff with Lee & Associates New Jersey came together this month to support an annual school supply drive by the United Way of Passaic County.

Finance & Capital Markets
Lenders Capital closes $29.5 million in financing for deals in New Jersey, Florida

The owner of an industrial property in Hamilton has refinanced the asset for $18.4 million, in one of two deals announced by Lenders Capital Realty Services.

Industrial
BRC: Utility contractor takes 4,700 sq. ft. at Middlesex industrial building

A utility line contractor has leased nearly 5,000 square feet of industrial space in Middlesex Borough, in a newly announced deal by Bussel Realty Corp.

Industrial
Clarion sells 203,000 sq. ft. Monroe industrial building for $54 million

Clarion Partners has sold a 203,000-square-foot industrial building in Monroe for nearly $54 million, in a newly announced deal by CBRE.

Industrial
Hamilton development site zoned for cannabis grow, manufacturing space on the market

A development site in Hamilton is on the market, with the potential to house nearly 75,000 square feet of industrial space and cannabis cultivation or manufacturing.

Finance & Capital Markets
PGIM Real Estate taps Marcus, Amabile as co-CEOs

PGIM Real Estate has picked two of its longtime executives as co-CEOs amid several newly announced appointments for the Newark-based asset manager.