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.

Finance & Capital Markets
Lenders close $12.5 million loan for 107-year-old ‘Art Factory’ in Paterson

The owner of a historic factory complex in Paterson that is home to artists, filmmakers and other creative users is getting a $12.5 million infusion for the property, under a loan closed by Silver Arch Capital Partners and Procida Funding & Advisors LLC.

Industrial
Rockefeller taps former Prologis exec to lead New Jersey, Pennsylvania offices

Rockefeller Group has named a new leader of its development team in New Jersey and Pennsylvania, tapping a former Prologis market officer to fill the role.

Finance & Capital Markets
HFF brokers $15.65 million construction loan for Hillside self-storage project

The developer of a 1,203-unit self-storage facility has secured $15.65 million in financing, following a transaction arranged by brokers with HFF.

Industrial
Logistics firm takes 526,000 sq. ft. in South Brunswick, Lee & Associates says

A multinational logistics firm has leased more than 500,000 square feet at a Prologis-owned building in South Brunswick, in a newly announced transaction by Lee & Associates.

Industrial
HFF: Newark industrial parcel sells for $8.2 million

A developer has paid more than $8 million for a 4.5-acre parcel near Newark Liberty International Airport, where it now plans to build an 80,000-square-foot industrial building.

Industrial
Bridge, local officials hail start of 4 million sq. ft. industrial park in Warren County

Bridge Development Partners has broken ground on its largest project in New Jersey to date — a 4 million-square-foot logistics park spanning Phillipsburg and Lopatcong along Route 22.

Industrial
JLL: Bordentown business park, development site fetch $19 million

An investment group has sold a two-building office and warehouse complex in Bordentown, in a $19 million sale arranged by JLL.

Industrial
Bergenfield warehouse draws 100,000 sq. ft. in renewals

Two tenants have combined to lease more than 100,000 square feet at a Bergenfield industrial building, in a set of renewals announced recently by Team Resources Inc.

Industrial
NAI Hanson: Distributor set to move after acquiring 32,000 sq. ft. Fair Lawn warehouse

A distributor of baseball caps is moving within Bergen County to a newly acquired industrial building in Fair Lawn, following a deal arranged by NAI James E. Hanson.

Industrial
At SIOR event, developers urge brokers to broaden their horizons

As tenants adopt a more regional approach to industrial space, New Jersey brokers must do the same and expand their focus to the Lehigh Valley and other neighboring markets. Brokers now have an opportunity to provide their clients with additional options beyond the core submarkets of northern and central New Jersey, developers say, noting that many regional tenants have already grown comfortable with casting a wider net.