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
Investor buys 553,000 sq. ft. Parsippany industrial building, reportedly for $116 million

Brooklyn-based Madison Properties had added to its New Jersey portfolio with the purchase of more than 550,000 square feet of industrial space in Parsippany.

Finance & Capital Markets
JLL: Hampshire, Invesco land $39 million acquisition loan for Teterboro industrial deal

A joint venture has acquired a nearly 222,000-square-foot industrial building in Teterboro with the help of $39 million in financing secured by JLL, the debt placement team said Tuesday.

Professional Services
Coffey, Gianetti named co-chairs of Day Pitney real estate and environmental group

Day Pitney LLP has tapped two of its New Jersey-based partners as co-chairs of the law firm’s real estate and environmental practice.

Deals
McBride: Longtime Hudson County embroidery factory sold, slated for redevelopment

The longtime home of an embroidery factory in Guttenberg has changed hands and is now slated to be redeveloped as multifamily housing, a broker with McBride Corporate Real Estate said.

Industrial
NAIDB: Six-building, 165,000 sq. ft. industrial site in Fair Lawn trades for $8.8 million

A private investor has acquired more than 165,000 square feet of industrial space in the Bergen County borough of Fair Lawn, in a newly announced deal by NAI DiLeo-Bram & Co.

Industrial
CenterPoint preleases 322,000 sq. ft. Linden industrial project to logistics firm

CenterPoint Properties has preleased more than 320,000 square feet of new industrial space under construction in Linden, securing a deal with a locally based third-party logistics firm.

Finance & Capital Markets
JLL: Delta Equity Management refis new 196,000 sq. ft. industrial building

The developer of a new distribution center in Bayonne has secured funds to refinance the nearly 196,000-square-foot property, according to a debt placement team with JLL.

Finance & Capital Markets
STRO, Valley ink $11 million refi for 81,000 sq. ft. Hackensack industrial park

The STRO Cos. has secured an $11 million loan to refinance an 81,000-square-foot industrial park in Hackensack.

Events
IOREBA panel conveys optimism, pragmatism amid market uncertainty (SLIDESHOW)

Speaking at IOREBA’s annual Developers Night, a panel of industry leaders offered both optimism and assuredness, but also frustration about a market that is still fundamentally strong in many respects but grinding along in the face of economic headwinds.

Deals
Self-storage developer buys Totowa office building, plans conversion

A developer has purchased a nearly 96,000-square-foot office building in Totowa that it now plans to convert to self-storage space, in a newly announced deal by The Blau & Berg Co.