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
BPU adopts permanent community solar program after successful pilot period

A state pilot program that has brought solar panels and new revenue to dozens of New Jersey industrial buildings is now permanent after a recent vote by utility regulators.

Industrial
Growing cloud, data backup provider takes 11,000 sq. ft. in Lincoln Park, Equity says

A cloud computing and data backup firm has leased 11,000 square feet of flex space in Lincoln Park, in a newly announced deal by Equity Real Estate Brokerage LLC.

Industrial
Ridgecut, Brennan Investment buy Sayreville industrial property for $23 million

A joint venture has acquired a truck facility and industrial outdoor storage property in Sayreville for more than $23 million, in a deal arranged by Kassin Sabbagh Realty.

Industrial
Site of 200,000 sq. ft. Sealed Air facility in Saddle Brook on the market for sale, JLL says

The owner of a single-tenant, 200,000-square-foot industrial building along Interstate 80 in Saddle Brook is seeking a buyer for the property, according to brokers with JLL.

Industrial
Fitness equipment dealer takes 43,000 sq. ft. in Cranbury in one of three related deals by BRC

A fitness equipment company has leased more than 43,000 square feet of industrial space in Cranbury, in the largest of three interconnected deals arranged by Bussel Realty Corp.

Industrial
Maker of Louis Vuitton, Hennessy set to backfill 887,000 sq. ft. distribution hub in Cranbury

A massive distribution center in Cranbury that was long home to Pearson Education is finding new life after a lease by LVMH Group, the owner of brands such as Louis Vuitton and Tiffany.

Top News
Proposed office-to-warehouse site in Parsippany on the market as owner seeks project approval

The site of a vacant office building in Parsippany — one that could be redeveloped as more than 100,000 square feet of new warehouse space — is on the market for sale.

Industrial
C&W: Port submarket still strong even as leasing, cargo volumes normalize

Industrial rents near Port Newark-Elizabeth are still rising despite a pullback in leasing, thanks to new development and the continued dominance of the East Coast’s top shipping hub.

Editor’s Note
Adaptation

The glory days of near-zero vacancy and hard-to-fathom rent growth in the industrial market always came with the slightest bit of tension, especially among veteran landlords who know full well that nothing lasts forever. And with good reason, as we now know, as the asset class grapples with new headwinds that may not have seemed likely only two years ago.

Industrial
Prologis taps Sacro as market leader for New York, New Jersey

Prologis Inc. has named a new market officer for its New York and New Jersey region, where its footprint spans some 250 buildings totaling 55 million square feet.