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
Veteran broker with Blau & Berg joins SIOR membership ranks

A longtime broker with The Blau & Berg Co. has earned the coveted membership designation with the Society of Industrial and Office Realtors.

Industrial
Marcus inks sale of 31,000 sq. ft. Newark industrial building for $6 million

A private owner has sold a nearly 32,000-square-foot Newark industrial building for $6 million, in a newly announced transaction by Marcus & Millichap.

Deals
Treetop buys medical office building, development sites in Bridgewater for $27 million

Treetop Development has acquired three properties in Bridgewater for $27 million, adding a medical office building and two adjacent lots that it hopes to develop as industrial space.

Finance & Capital Markets
Penwood snags $40 million acquisition loan for 274,000 sq. ft. Bordentown warehouse, JLL says

An investment manager has added to its New Jersey real estate holdings, acquiring a Bordentown industrial building with the help of a $40 million loan arranged by JLL.

Industrial
Principal breaks ground on 191,000 sq. ft. North Brunswick warehouse project, Peak says

Construction is underway on a project that will bring more than 190,000 square feet of new industrial space to a stretch of Route 1 in North Brunswick.

Industrial
Local firm buys 40,000 sq. ft. warehouse, office building in Garwood, NAI DiLeo-Bram says

A local investor has purchased a 40,000-square-foot commercial property in Garwood for $3.8 million, according to brokers with NAI DiLeo-Bram & Co.

Photos
Sanzari named finalist in annual New Jersey Family Business of the Year Awards

Alfred Sanzari Enterprises and other top family-owned firms in New Jersey took center stage last month as part of an annual program hosted by Fairleigh Dickinson University.

Finance & Capital Markets
New Vernon Equities lands $15 million loan for new 76,000 sq. ft. East Hanover facility

The developer of a nearly 76,000-square-foot industrial building in East Hanover has secured $15 million in permanent financing, according to a debt placement team with JLL.

Industrial
Terreno sells Somerset industrial building for $25 million, nearly tripling purchase price

Terreno Realty Corp. has sold an 86,000-square-foot industrial building in the Somerset section of Franklin for $25 million, nearly tripling the price it paid for the property in 2016.

Policy Page
Reduce, reuse, recycle: Vintage Jersey properties are ripe for repurposing

As one of America’s original 13 colonies, New Jersey has a rich and historic past. This includes former industrial properties or commerce centers in urban areas, more recently developed office parks in the suburbs and older office buildings — many of which largely stand empty — in central business districts. These vacant relics — together and individually — can be transformed into new, vibrant centers for live, work and play.