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
S. Hekemian Group, JLL ink sale of Newark warehouse for more than $800 per square foot

The S. Hekemian Group has sold a newly built, 76,000-square-foot industrial building just north of Interstate 78 in Newark, achieving a record price of more than $820 per square foot.

Deals
Investment firm sells 64,000 sq. ft. flex building in Gloucester Co., WCRE says

A local owner has sold a 64,000-square-foot flex building in the Gloucester County Township of West Deptford, according to brokers with Wolf Commercial Real Estate.

Industrial
ReadySpaces takes 126,000 sq. ft. in Kearny for co-warehousing firm’s third N.J. location

Co-warehousing firm ReadySpaces has added a third New Jersey location and its second this year, leasing 126,000 square feet at a Kearny industrial building.

Finance & Capital Markets
Lender provides $7.9 million for plans to convert Montclair, Clifton commercial buildings

A national private direct lender has closed nearly $8 million in financing for projects that will reposition vacant buildings in Montclair and Clifton.

Industrial
Embattled fund manager GPB Capital sells 30-acre cold storage parcel near Port Newark

A beleaguered private equity firm has sold 30 acres in the heart of Newark’s port district, where its plans once called for some 250,000 square feet of cold storage space.

Industrial
Joint venture plans 120,000 sq. ft. Newark project under $1 billion development fund

An investment group has unveiled plans to build nearly 120,000 square feet of high-end logistics space in Newark under a newly formed, $1 billion joint venture with seven projects.

Industrial
Marcus Partners adds light industrial, movie theater properties in Morris County

Investment firm Marcus Partners has acquired four commercial properties in East Hanover, adding nearly 155,000 square feet to its New Jersey portfolio.

Industrial
Developer bringing new 200,000 sq. ft. logistics center to Bayonne, JLL says

A developer is eyeing a fall delivery for a project that will bring nearly 200,000 square feet of high-end industrial space to Bayonne, according to the firm and brokers with JLL.

Industrial
C&W: First National Realty sells 80,000 sq. ft. flex park on Route 9

A private equity firm has sold a nearly 80,000-square-foot flex campus in Old Bridge, in a transaction arranged by Cushman & Wakefield.

Industrial
Buyer adds 138,000 sq. ft. Linden industrial property for $15 million, BRC says

An industrial buyer has paid $15 million for a multitenant, 138,000-square-foot property in Linden, in a newly announced transaction by Bussel Realty Corp.