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
Prologis fills Port Reading building with 607,000 sq. ft. lease with logistics firm

Prologis Inc. has leased more than 600,000 square feet in Woodbridge to a warehousing and logistics firm, in what was one of New Jersey’s largest industrial deals to start the year.

Government & Public Policy
Perth Amboy, Viridian kick off demolition for $110 million, mixed-use ‘Gateway’ project

Officials in Perth Amboy are marking the start of a long-awaited redevelopment along the city’s waterfront, seeking to transform nearly 45 acres of contaminated, blighted property with a mix of pad-ready sites, warehouse space and open space for residents.

Events
United Way reveals commercial, industrial award finalists for annual real estate luncheon

United Way of Northern New Jersey has unveiled the finalists for its commercial real estate awards next month, part of a program that will mark its 25th year of partnering with industry executives for the organization’s largest annual fundraiser.

Industrial
BRC: Textile wholesaler, life sciences user ink leases at Somerset industrial flex building

Two tenants have leased a combined 25,000 square feet of industrial and laboratory space in the Somerset section of Franklin, according to brokers with Bussel Realty Corp.

Industrial
Brooklyn-based buyer adds 52,000 sq. ft. Totowa warehouse, Team Resources says

An affiliate of Snowball Developments LLC has acquired a 52,000-square-foot industrial building in Totowa, brokers with Team Resources Inc. announced last week.

Finance & Capital Markets
C&W: LEG inks $54 million construction loan for 204,000 sq. ft. Belleville industrial project

Lincoln Equities Group has landed nearly $54 million in financing to build more than 204,000 square feet of new industrial space in Belleville, brokers with Cushman & Wakefield said.

Events
NAIOP unveils Deal of the Year finalists for industrial, winners for office and mixed-use

NAIOP New Jersey has announced its Deal of the Year winners in the office and mixed-use categories as well as three finalists for the industrial sector, with plans to highlight the honorees at its 37th annual Commercial Real Estate Awards Gala in mid-May.

Industrial
Denholtz enters Texas market, acquires new 213,000 sq. ft. industrial campus

Denholtz Properties has added to its portfolio outside New Jersey with more than 213,000 square feet of newly built industrial space near Austin, Texas.

Industrial
Private buyer snags 93,000 sq. ft. Oakland warehouse for $14.7 million, JLL says

A private investor has purchased a 93,000-square-foot industrial building in Bergen County for $14.65 million, in a newly announced deal by JLL.

Industrial
Elberon’s Gibbons honored with Elizabeth Development Co. Lifetime Achievement Award

Elberon Development Group CEO Dave Gibbons has received the Lifetime Achievement Award from the Elizabeth Development Co., the public nonprofit organization that has helped guide economic growth in the city for more than 45 years.