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
Petrucci: New Lehigh Valley flex park is fully leased after deal with pharma distributor

J.G Petrucci Co. Inc. has signed a new 40,000-square-foot lease in the Lehigh Valley, bringing a three-building industrial park to full occupancy after a phased buildout starting in 2019.

Industrial
Penwood fund buys 97,000 sq. ft. Meadowlands industrial building for $31 million

Penwood Real Estate Investment Management has expanded its footprint in the Meadowlands, where a fund operated by the firm has acquired a nearly 97,000-square-foot industrial building.

Professional Services
Avison Young taps Stone as New Jersey market leader, with Heller set to focus on brokerage

Avison Young has named a new leader of its New Jersey team, eyeing continued growth in the region after launching its first office here more than a decade ago.

Industrial
Donnelly completes walls, steel for new 26,000 sq. ft. Wayne industrial project

Donnelly Construction has erected walls and steel for a nearly 26,000-square-foot warehouse in Wayne that’s on track to open by this spring, the firm announced Tuesday.

Industrial
Home Depot takes 1.3 million sq. ft. in Monroe, amid measured outlook for N.J. industrial space

Home Depot has leased nearly 1.3 million square feet of newly built industrial space in Monroe, in a sign of continued market demand despite a shrinking appetite by e-commerce users.

Industrial
BRC inks sale of 8,000 sq. ft. Somerset industrial building

A local owner has sold an 8,000-square-foot industrial building in Franklin’s Somerset section, in a newly announced deal by Bussel Realty Corp.

Industrial
Peak Construction names new chief operations officer

Peak Construction Corp. has hired a longtime industry executive as its chief operations officer.

Community
Pillar Care raises nearly $2 million at gala honoring Bridge Industrial’s Milanaik

A nonprofit serving people with disabilities has raised nearly $2 million with the help of Bridge Industrial’s Jeff Milanaik, the veteran developer and longtime supporter of the organization.

Industrial
Turnbridge, Long Wharf sell Newark logistics complex for $128 million

Turnbridge Equities and Long Wharf Capital have sold a three-building, 738,000-square-foot industrial complex in Newark for nearly $128 million, the firms announced Tuesday.

Government & Public Policy
Lions Gate awarded EDA ‘Studio Partner’ designation, boosting tax credit eligibility

Lions Gate Films Inc. has secured a key designation by the state Economic Development Authority, allowing it to secure additional incentives in connection with a sprawling studio complex that’s now under construction in Newark.