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
New York investment firm adds Sparta self-storage complex

An investment firm has purchased a 58,000-square-foot self-storage facility in Sparta, marking its second recent acquisition in New Jersey.

Professional Services
Premier announces two promotions in New Jersey office

Premier Design + Build Group has promoted two construction professionals in its New Jersey-based regional office.

Industrial
Developer sells 1.2 million sq. ft. industrial portfolio in Pennsauken, Colliers says

The original developer of two large industrial parks in Camden County has sold the 32-building, 1.2 million-square-foot portfolio, in a newly completed transaction by Colliers International.

Industrial
Fulfillment vendor leases 67,000 sq. ft. in Parsippany

A fulfillment vendor for Amazon is taking nearly 70,000 square feet at a warehouse and distribution facility in Parsippany, according to Resource Realty of Northern New Jersey.

Editor’s Note
A fresh look

You wouldn’t know it by the last four months, but major news stories are always prone to ebbs and flows. The federal Opportunity Zone program is a case in point when it comes to commercial real estate publications. The investment vehicle has been all the rage at various points since it was created in late 2017, only to take a step back as buzz died down.

Industrial
Tulfra breaks ground on self-storage project at Rochelle Park redevelopment site

Tulfra Real Estate has started construction at the site of a self-storage facility in Rochelle Park, part of a plan to redevelop a former AT&T data center site near Route 17.

Finance & Capital Markets
Pandemic slows first-half investment sales in northern, central New Jersey, DiLeo-Bram says

Commercial real estate investors across five New Jersey counties took a cautious approach during the coronavirus outbreak, as transaction volume fell through the first half of the year.

Industrial
Woodmont taps former CBRE broker to lead industrial acquisitions

Woodmont Properties has hired a former broker with CBRE as its new head of industrial acquisitions.

Industrial
J.G. Petrucci sells 188,000 sq. ft. industrial building in Somerset County

J.G. Petrucci Co. Inc. has completed the sale of a built-to-suit, 187,500-square-foot industrial building in Branchburg to a hospitality and food-service products company.

Industrial
NAI Hanson inks 120,000 sq. ft. industrial sale in Totowa

A cosmetics company has acquired a nearly 120,000-square-foot industrial building in Totowa, under a newly completed transaction by NAI James E. Hanson.