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
BRC inks 63,000 sq. ft. lease in Metuchen with Seagis, trucking company

Seagis Property Group has secured a new commitment at a Metuchen industrial building, where a trucking company is leasing nearly 63,000 square feet.

Industrial
Denholtz adds five-acre industrial parcel on Newark waterfront

Denholtz Properties has purchased a five-acre outdoor storage parcel in Newark, in the latest investment under a recently announced joint venture targeting industrial properties.

Industrial
Taconic signs 151,000 sq. ft. renewal at Morris Twp. industrial building

Taconic Partners has signed a 151,000-square-foot lease renewal at a Morris County industrial building with a freight transportation company.

Events
IOREBA program to highlight legal limitations and liabilities in commercial real estate

The Industrial and Office Real Estate Brokers Association will welcome industry leaders next week for its fall kickoff event in Roseland, where panelists will tackle a key legal topic.

Events
Hundreds turn out as NAIOP New Jersey honors industry titans, contributors

NAIOP New Jersey welcomed a crowd of 300 for its annual President’s Awards and Hall of Fame Dinner, honoring eight commercial real estate industry leaders spanning multiple generations, in one of the association’s most popular events of the year.

Finance & Capital Markets
Investors take pause, reassess as interest rates shock commercial real estate market

The rapid rise in interest rates has caused a sudden slowdown and growing uncertainty in New Jersey’s investment sales market, leading buyers to reassess their plans in the near term, while placing newfound pressure on even the strongest asset classes.

Industrial
NAI Hanson inks sale of South Hackensack industrial building to chimney services business

A chimney services company has purchased a 4,400-square-foot industrial building in South Hackensack, according to a broker with NAI James E. Hanson.

Industrial
NAI Hanson: Online millwork business leases 10,000 sq. ft. at Sparta industrial park

7 Aaron Way in Sparta — Courtesy: NAI James E. Hanson By Tina Traster An online retailer has taken 10,400 square feet of newly built industrial space at the White Lake Commerce Park in Sparta, a broker with NAI James…

Industrial
Realterm buys two-building, 42,000 sq. ft. warehouse portfolio in East Rutherford

Investment manager Realterm has added nearly 42,000 square feet in New Jersey with its purchase of two industrial buildings in East Rutherford, in a deal by NAI James E. Hanson.

Finance & Capital Markets
Progress Capital sources $23 million loan for 1,000-unit self-storage project

A developer has landed a $23 million construction loan for a planned 1,000-unit self-storage facility in Branchburg, in a deal arranged by Progress Capital.