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
Connors inks 25,000 sq. ft. warehouse lease in North Bergen

An industrial user has leased nearly 25,000 square feet at a warehouse in North Bergen, the William F. Connors Agency announced recently.

Industrial
Newmark: Investors acquire 352,000 sq. ft. Gannett plant in Rockaway for $39 million

A joint venture has acquired a 352,461-square-foot printing plant in Rockaway for $39 million, in a deal arranged by Newmark’s tristate capital markets team.

Industrial
Velocity expands footprint in Pennsauken with purchase of 560,000 sq. ft. industrial property

Velocity Venture Partners has acquired a 560,000-square-foot industrial building in Pennsauken for $32 million, in the latest addition to its fast-growing portfolio in the township.

Professional Services
JLL adds senior vice president to lead Northeast industrial project management team

JLL has named a new senior vice president to lead its Northeast industrial project management group.

Professional Spotlight
Gilbane names new business development manager in Newark office

Gilbane Building Co. has tapped an engineering and construction industry veteran as the newest addition to its New Jersey business development team.

Finance & Capital Markets
JLL places $16.1 million loan for four-building, 390,000 sq. ft. Raritan Center portfolio

Summit Associates Inc. has refinanced a nearly 390,000-square-foot industrial portfolio in Edison for $16.1 million, brokers with JLL announced Thursday.

Industrial
Somerset hockey rink sold, slated to become warehouse space

The operator of a hockey rink in Franklin Township has sold the property to a buyer that is now slated to use it as warehouse space, according to brokers with Cushman & Wakefield.

Residential & Mixed Use
Kislak touts banner year with 242 transactions, $1 billion in deal volume

The Kislak Co. Inc. and Kislak Commercial Real Estate Services Inc. are reporting record investment sales and leasing activity in 2021, closing 242 transactions in six states.

Industrial
CBRE: Rents for top New Jersey industrial buildings rise 55 percent in 2021

The cost to lease industrial space in New Jersey skyrocketed in 2021, with average asking rents for high-end buildings jumping by more than 50 percent from the previous year.

Industrial
Realterm buys 35,000 sq. ft. truck terminal in South Plainfield

An investment manager has purchased a nearly 35,000-square-foot truck terminal in Middlesex County, marking the latest addition to its industrial portfolio in the region.