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
Morris County industrial building trades for $5.65 million

An investment firm has acquired a nearly 50,000-square-foot industrial building in Randolph, under a newly announced transaction by Team Resources Inc.

Industrial
Pennsauken industrial building, storage lot sell for $1 million

A trucking and logistics firm has acquired more than 4,000 square feet of industrial space and three adjacent acres in Pennsauken, in a transaction arranged by Markeim Chalmers Inc.

People
Team Resources broker promoted, named vice president

Team Resources Inc. has announced a promotion within its brokerage team.

Professional Services
Weichert senior VP earns firm’s top brokerage award for third time

An agent with Weichert Commercial Brokerage has been recognized as the firm’s top performer for the third time in four years.

Industrial
Investor sells 43,000 sq. ft. flex building in Branchburg, C&W says

A nearly 43,000-square-foot flex industrial building in Branchburg has changed hands for $6.4 million, under a newly announced transaction by Cushman & Wakefield.

Industrial
NAI Hanson: Bicycle maker finds new HQ, takes 24,000 sq. ft. in Fairfield

An international bicycle company has found a new home in Fairfield, where it is leasing nearly 24,000 square feet of industrial space after the recent sale of its prior headquarters.

Industrial
3PL operator inks 135,000 sq. ft. renewal in Piscataway, LMC says

A third-party logistics provider has renewed its 135,000-square-foot lease at a Piscataway industrial complex, an executive with Levin Management Corp. said Monday.

Government & Public Policy
Developers eyeing large-scale studio projects in New Jersey, spurred by popular film tax credit

Developers and property owners in New Jersey are betting that a tax credit for film production will get the cameras rolling in the Garden State, with demand already surging and expected to grow after a recent expansion of the program by Gov. Phil Murphy and lawmakers.

Industrial
C&W: Logistics firm takes 570,000 sq. ft. at Mount Olive industrial complex

An e-commerce logistics firm has leased more than 570,000 square feet at a Mount Olive industrial building, where brokers continue to market nearly 850,000 square feet.

Professional Services
CBRE announces promotion, names new director of New Jersey project management

CBRE has promoted a member of its New Jersey project management team to director of the practice, the commercial real estate services firm announced Thursday.