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.

Logistics users scramble for quality space

A drought in modern space options is rippling through the New Jersey Industrial market, creating challenges for logistics users while providing opportunities for developers. Class A availability has fallen to cycle lows of 5.5 percent, a far cry from last cycle’s peak when Class A availability reached 27.5 percent.

Industrial

Distribution firm takes 29,000 sq. ft. in Moorestown, NAI Mertz says

A global distribution company has leased 29,000 square feet at a Moorestown industrial building, bringing the property to 100 percent occupancy.

Industrial

Advance, Greek detail plans for 4.1 million sq. ft. industrial park in Linden

Advance Realty and Greek Development have taken the wraps off their plans for a new 4.1 million-square-foot logistics park in Linden, in what they say is the largest planned industrial development in the Port of New York and New Jersey region.

Industrial

Harrison warehouse user renews for 21,000 sq. ft., Team Resources says

A storage, logistics and fabrication shop serving the entertainment industry has renewed its 21,000-square-foot lease in Harrison, in a deal arranged by Team Resources Inc.

Industrial

WRE: Brooklyn publisher set to buy Rahway building, expand into New Jersey

A large Brooklyn-based publishing company is expanding into New Jersey with the planned acquisition of a 256,000-square-foot building in Rahway, thanks in large part to a 10-year, $8.25 million tax credit package from the state Economic Development Authority.

Industrial

Denholtz, MB1 sell L’Oréal R&D headquarters complex for $16 million

Denholtz Associates has sold the 108,000-square-foot headquarters of L’Oréal’s North American R&D division in Clark, in a nearly $16 million deal arranged by Newmark Knight Frank.

Government & Public Policy

EDA: Delivery startup weighing 300,000 sq. ft. facility in South Jersey

State officials have offered a 10-year, $39 million tax credit package to encourage an online delivery startup to open a nearly 300,000-square-foot facility in Gloucester County.

Events

ULI highlights top New Jersey CRE projects, industry leaders at awards dinner

The Urban Land Institute honored a dozen commercial real estate projects and industry leaders last week as part of an annual awards dinner hosted by its northern New Jersey chapter.

Industrial

Rockefeller, HVAC provider ink 155,000 sq. ft. lease in Piscataway

Rockefeller Group and PCCP LLC have filled a second building at their planned 2.1 million-square-foot industrial park in Piscataway, signing a 155,000-square-foot lease with a maker of ductless heating and cooling products.