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
Servpro franchise renews for 8,400 sq. ft. in Mountainside, NAI Hanson says

NAI James E. Hanson has negotiated a renewal for 8,350 square feet of industrial space in Mountainside, the home of a local Servpro franchise.

Industrial
Dermody taps former Duke Realty exec as senior VP for development in east region

Dermody Properties has named a new senior vice president for development in its east region office, the industrial real estate builder and investment firm announced Monday.

Industrial
Samsung takes 735,000 sq. ft. in Linden, as N.J. industrial rents continue surge in Q3

Industrial rents in northern and central New Jersey continued to soar in the third quarter, amid ongoing demand for relatively few spaces and locations near the New Jersey Turnpike, fueling deals such as Samsung’s lease for more than 735,000 square feet in Linden.

Finance & Capital Markets
JLL sources $47 million acquisition loan for Thor industrial deal in Passaic

An institutional lender has provided $47 million in financing to Thor Equities Group for a recently acquired, 330,000-square-foot industrial building in Passaic.

Industrial
Investment firm snags industrial property in Elizabeth, Linden for $47 million

A Dallas-based firm has expanded its New Jersey holdings with the addition of a 10-acre industrial site in Union County, under a deal arranged by Cushman & Wakefield.

People
Larken Associates taps Iacobucci as chief investment officer

Larken Associates has picked a veteran commercial real estate executive as its new chief investment officer.

Office
Avison Young: Shelbourne, electronics parts maker ink 61,000 sq. ft. lease in Piscataway

A manufacturer of electronics parts has leased more than 60,000 square feet in Piscataway, in the largest of several newly announced deals by Avison Young.

Government & Public Policy
Demolition begins in East Brunswick as builders, officials prepare to transform Route 18

A development team has started demolition of a blighted, long-vacant retail complex along Route 18 in East Brunswick, in a critical step in a plan to build new apartments, commercial space and other uses as part of a destination spanning dozens of acres.

Industrial
Kosher foods wholesaler buys 74,000 sq. ft. Carteret industrial building, BRC says

A distributor of Kosher foods has purchased a 74,000-square-foot industrial building in Carteret for $11.75 million, brokers with Bussel Realty Corp. announced Tuesday.

Industrial
Prologis adds 8.3 million sq. ft. in New Jersey, with more to come after Duke Realty deal

Prologis Inc. has added more than 8 million square feet of industrial space in New Jersey with its newly completed acquisition of Duke Realty Corp., with nearly 3 million square feet still to come via development in progress and buildable land sites.