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 74,000 sq. ft. Totowa flex, industrial property for $7.6 million

Marcus & Millichap has negotiated the sale of a nearly 74,000-square-foot flex industrial property in Totowa for $7.6 million.

Industrial
Construction begins on two-building, 1.7 million sq. ft. industrial park in Salem County

A developer has broken ground on a project that will bring more than 1.7 million square feet of new industrial space to Salem County, according to Premier Design + Build Group.

Finance & Capital Markets
C&W: Camber secures $89 million refi for South Jersey, Bucks County industrial portfolio

Camber Real Estate Partners has refinanced a 25-building, 1.2-million-square-foot light industrial portfolio in southern New Jersey and Pennsylvania for more than $89 million.

Industrial
Diversified touts two new leases in Montville, bringing industrial park to full occupancy

Diversified Properties has brought the five-building Mars Industrial Park in Montville to full occupancy after two recent leases totaling nearly 14,000 square feet.

Finance & Capital Markets
C&W: Investors land $27 million acquisition loan for Port Newark spec industrial site

An investment group has procured a $27.3 million acquisition loan for a nearly 10-acre industrial parcel adjacent to Newark Liberty International Airport.

Industrial
Longpoint, glass distributor ink 29,000 sq. ft. industrial deal in Clifton, Lee & Associates says

A commercial glass distributor has leased 29,000 square feet of warehouse space in Clifton, in a newly announced deal by Lee & Associates New Jersey.

People
NAI Hanson promotes three brokers to associate vice president

By Tina Traster NAI James E. Hanson has promoted Justin Allessio, William Ericksen and Andrew Kirshenbaum to the role of associate vice president, the Teterboro-based firm announced. The company said that, since joining NAI Hanson in winter 2017, Alessio has…

Industrial
Donnelly breaks ground on 25,000 sq. ft. warehouse project in Wayne

Construction is underway for a new 25,000-square-foot industrial building in Wayne, one of two that a development team is planning for a site just west of routes 23 and 202.

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.