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.

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What’s in store for New Jersey’s commercial real estate market in 2022?

Over the course of the pandemic, commercial real estate has experienced notable highs and lows. The current market has rebounded vigorously and now exceeds pre-pandemic levels. To learn what’s in store in 2022, we sat down with Cushman & Wakefield’s powerhouse New Jersey Capital Markets team. Founded by Andy Merin in 1987, the team has been involved in more than $34 billion in property sales throughout its tenure.

Industrial
CenterPoint opens 183,000 sq. ft. Newark warehouse that will serve as Costco facility

CenterPoint Properties has unveiled a new 183,000-square-foot industrial building in Newark, where it has redeveloped a former resin plant in the heart of the city’s port district.

Industrial
Bergen County light industrial building on the market, priced to sell for $30 million

The owner of a light industrial building in Fair Lawn is looking to sell the nearly 150,000-square-foot property, in a new offering by JLL’s New Jersey capital markets team.

Industrial
CenterPoint buys 117,000 sq. ft. warehouse in Wayne, NAI Hanson says

CenterPoint Properties has acquired another New Jersey industrial building, adding more than 117,000 square feet in Wayne near the intersection of Route 23 and Interstate 80.

Events
United Way honors Turner’s Romanski alongside Valley Bank lease, Bridge Point 78

The United Way of Northern New Jersey hosted its first in-person Commercial Real Estate Network Legacy Event since 2019, drawing a crowd of 400 while raising more than $365,000 in support of asset-limited, income-constrained, employed individuals.

Industrial
C&W: Two-building Bergen County industrial portfolio sells for $11 million

A local owner and developer has sold a nearly 39,000-square-foot industrial portfolio in Midland Park for $11 million, brokers with Cushman & Wakefield announced Friday.

Industrial
CenterPoint adds 58,000 sq. ft. warehouse on low-coverage site in Fairfield

CenterPoint Properties has completed its first deal in the Fairfield industrial submarket, acquiring a parcel with nearly 60,000 square feet of warehouse space on just over four acres.

Industrial
Trenton industrial complex fetches $5.6 million, NAI Fennelly says

A seller has reaped $5.6 million in the trade a four-building, 75,097-square-foot industrial complex in Trenton, in a newly announced deal by NAI Fennelly.

Industrial
Marcal, Crow Holdings bringing new industrial space to fire-ravaged site in Elmwood Park

More than 200,000 square feet of new industrial space is coming to the Marcal Paper complex in Elmwood Park, helping revive part of a site that was mostly leveled by an infamous 2019 fire.

Industrial
Nonprofit relocates, takes 4,300 sq. ft. in Pennsauken, Vantage Commercial says

Crescent Business Center at 7300 North Crescent Blvd. in Pennsauken — Courtesy: Vantage Commercial