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.

Professional Services
NAI Hanson promotes Fittizzi, Kristofich to vice president

NAI James E. Hanson has promoted brokers Dominic Fittizzi and Jonathan Kristofich to the role of vice president, the Teterboro-based real estate services firm announced Tuesday.

Industrial
Investment firm buys 144,000 sq. ft. Essex County facility in sale-leaseback

Investment firm MAG Capital Partners has acquired a nearly 145,000-square-foot building in Essex County as part of a sale-leaseback with the owner of a cosmetics manufacturer.

Industrial
Tanker company adds 220,000 sq. ft. Bridgewater complex for $37 million

An affiliate of a national tanker truck company has acquired a 220,000-square-foot industrial complex in Bridgewater for $37 million, according to a team with Bussel Realty Corp.

Industrial
Roofing, gutter company takes 103,000 sq. ft. in Somerset, BRC says

A roofing and gutter manufacturer has leased more than 100,000 square feet of industrial space in Franklin’s Somerset section, in a newly announced deal by Bussel Realty Corp.

Industrial
BRC completes 4,000 sq. ft. lease at Roselle industrial building

The owner of a Roselle industrial building has signed a new 4,000-square-foot lease at the property, in a newly announced transaction by Bussel Realty Corp.

Industrial
Hartz sells 567,000 sq. ft. Wayne industrial complex to Ares for $138.5 million

Hartz Mountain Industries has sold a nearly 570,000-square-foot industrial complex in Wayne to an affiliate of Ares Management, in a recent deal valued at more than $138 million.

Professional Services
IOREBA installs First American’s Greif as president among newest board officers

The Industrial and Office Real Estate Brokers Association has installed its new slate of board officers for the 2022-23 term.

Industrial
Food-focused investor buys Vineland facility in $23 million sale-leaseback

An investor has acquired a food production and distribution facility in Vineland for nearly $23 million, marking its second such deal in southern New Jersey in less than a year.

Industrial
Outdoor storage investor adds eight-acre site in Edison, marking its first New Jersey deal

A national investor has made its entrance to New Jersey with the purchase of an eight-acre construction yard in Edison, according to brokers with NAI James E. Hanson.

Finance & Capital Markets
Greek, Principal ink $32 million construction loan with Provident for warehouse project

Greek Development and Principal Real Estate Investors have closed on more than $32 million in construction financing for a long-awaited industrial project in Pennsylvania’s Bucks County.