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.

Events
NAIOP reveals deal of the year finalists for upcoming gala

NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.

Government & Public Policy
EDA aims to lure grocery co-op from Staten Island, keep food service firm in Paterson

The state is hoping to coax a supermarket co-op to move its offices from Staten Island to Old Bridge as part of a recently approved tax credit incentive, as it moves to keep another food-related company from moving jobs out of New Jersey.

Government & Public Policy
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building

A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.

Professional Services
Garibaldi adds first-ever managing broker as part of historic rebrand

The Garibaldi Group has hired a veteran broker and consultant who will play a key role in the firm’s efforts to revamp and expand its real estate services platform.

Industrial
C&W named property manager for 1.1 million sq. ft. Newark industrial complex

The new owners of the former P. Ballantine & Sons brewery site in Newark has tapped Cushman & Wakefield to manage the 1.1 million-square-foot complex.

Industrial
Grocery distributor takes 18,000 sq. ft. in Hillside, BRC says

A grocery distributor is set to relocate to an 18,000 square-foot industrial space in Hillside, following a lease arranged by brokers with Bussel Realty Corp.

Industrial
NAI Hanson: Microbrewery takes 8,000 sq. ft. in New Providence

A microbrewery has committed to nearly 8,000 square feet at a New Providence industrial building, under a newly completed transaction by NAI James E. Hanson.

Finance & Capital Markets
Investor demand still strong in New Jersey as buyers seek safety, certainty in commercial real estate

With 2019 underway, competition among commercial real estate investors has only intensified in New Jersey, largely around properties that offer some level of safety in the later stages of the economic expansion.The Garden State is by no means alone in that regard, but brokers and other experts say they expect demand to stay robust in the near term, citing everything from Wall Street volatility to the continued arrival of buyers from other markets.

Professional Services
SIOR NJ highlights top industrial, office deals from 2018

The Society of Industrial and Office Realtors’ New Jersey chapter presented its annual largest deal awards last week, showcasing some of the industry’s top transactions of 2018.

Industrial
With opportunities scarce, deal volume slows for New Jersey industrial sales

The struggle continues for investors looking to buy industrial properties in New Jersey, where prices remain high but sales volume remains low compared to other major markets.