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.

Finance & Capital Markets
Developer of five-year-old self-storage building in Westwood refis for $12 million, JLL says

The developer of an 830-unit self-storage facility in Bergen County has refinanced the property for $12 million, according to a debt placement team with JLL.

Finance & Capital Markets
Provident, Lakeland to merge in $1.3 billion deal that will fortify CRE lending platforms

Provident Bank and Lakeland Bank are joining forces under a $1.3 billion merger announced Tuesday, bringing together two key lenders in the state’s commercial real estate sector.

Industrial
Joint venture breaks ground on 1.1 million sq. ft. logistics park four miles from N.J. Turnpike

Construction is underway on a project that will bring nearly 1.1 million square feet of high-end industrial space to a 74-acre former chemical plant site in Sayreville.

Industrial
Newark’s Ballantine Industrial Center fully leased after 21,000 sq. ft. deal, NAI Hanson says

A business that serves the fashion industry has expanded its footprint at the former Ballantine Brewery complex in Newark, bringing the sprawling property to full occupancy.

Top News
L’Oréal details plan for new $140 million research, innovation center in Clark

L’Oréal USA has unveiled plans for a new $140 million research and innovation center in Clark, where it’s replacing facilities that it has occupied in the area for more than six decades.

Industrial
Prologis, Dotcom Distribution ink 400,000 sq. ft. extension in Edison, Avison Young says

Prologis Inc. and Dotcom Distribution, an e-commerce fulfillment provider, have signed a lease extension for more than 400,000 square feet of industrial space in Edison.

Professional Services
NAI Hanson promotes two to associate vice president

NAI James E. Hanson has promoted brokers Lorenzo Lambiase and Cameron Silverstein to the role of associate vice president, the Teterboro-based firm announced Monday.

Industrial
Developer eyes 1.2 million sq. ft. industrial project in Northeast Pennsylvania, JLL says

A national investor has acquired an 85-acre development site in Pennsylvania, about 20 miles outside New Jersey, with plans to build 1.2 million square feet of modern industrial space.

Top News
Construction set to begin on 155,000 sq. ft. Brookfield industrial building in Fair Lawn

Brookfield Properties is bringing more than 150,000 square feet of new industrial space to the Bergen County borough of Fair Lawn, with construction set to begin in the months ahead.

Industrial
Two-building, 125,000 sq. ft. flex complex in Florham Park trades for $22.5 million

The longtime owner of a nearly 125,000-square-foot flex industrial complex in Florham Park has sold the property for $22.5 million, in a deal arranged by McBride Corporate Real Estate.