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.

Office
Contractor buys Howell office, warehouse property for $2.9 million, Sheldon Gross says

A contractor has purchased a 10,300-square-foot commercial property in Howell for $2.9 million, in a deal arranged by Sheldon Gross Realty.

Editor’s Note
At the ready

The issue of so-called stranded assets is a recurring theme in New Jersey commercial real estate, regrettably so, one that often finds public officials on their heels when they’re left with a vacant, obsolete office park or mall. That is seemingly not the case in Bedminster, where local leaders spent nearly a decade preparing for the possibility that AT&T, its largest taxpayer and employer, would vacate its iconic, 1.1 million-square-foot campus in the township.

Industrial
NAI Hanson: Clothing retailer takes 25,000 sq. ft. in Ramsey, in relocation from N.Y.C.

A family-owned clothing accessories business has leased nearly 25,000 square feet of industrial space in Ramsey, in a newly announced deal by NAI James E. Hanson.

Finance & Capital Markets
J.P. Morgan secures $45 million refi of 1.1 million sq. ft. Poconos warehouse, C&W says

An investment group has landed $45 million to refinance a nearly 1.1 million-square-foot industrial building in Pennsylvania’s Poconos region, about 25 miles outside New Jersey, in a deal arranged by Cushman & Wakefield.

Industrial
CenterPoint, food company ink 150,000 sq. ft. industrial lease in Carteret, BRC says

A food purveyor has signed a full-building, 150,000-square-foot lease at a Carteret industrial property, in a newly announced deal by Bussel Realty Corp.

Industrial
Newmark Associates: Investor adds 157,000 sq. ft. Readington industrial park for $15.5 million

An investment firm has purchased a 157,000-square-foot industrial park in Readington for nearly $16 million, according to a brokerage team with Newmark Associates CRE.

People
Saxum names new senior development manager after recent promotion

Saxum Real Estate has announced the promotion of Brandon Alviano to senior development manager.

Events
Kokes Properties earns Shore Builders’ distinguished BEAM Award

The Shore Builders Association of Central New Jersey has honored Kokes Properties with its most prestigious award, recognizing the firm’s commitment to the organization as well as its positive impact on the local industry.

Residential & Mixed Use
Partnerships, collaboration in focus as NAIOP gala honors CRE leaders and deals of the year

Commercial real estate leaders turned out Thursday for NAIOP New Jersey’s annual gala, where the chapter honored five key figures and unveiled its coveted Deal of the Year winners.

Top News
NAIOP New Jersey CEO McGuinness to step down after 25 years

Mike McGuinness, the highly regarded CEO of NAIOP New Jersey, is stepping down after more than 25 years at the helm of the commercial real estate association.