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
Rockefeller, PCCP ink 1 million sq. ft. sale at Piscataway logistics hub

Rockefeller Group and a joint venture partner, PCCP LLC, have sold two newly completed buildings in a planned 2.1 million-square-foot logistics park in Piscataway, including a 725,000-square-foot distribution center for Best Buy.

Industrial
Camber, Advance acquire 400,000-square-foot light industrial complex in Mahwah

A joint venture has added to its portfolio of light industrial buildings with the acquisition of a three-building, 400,000-square-foot industrial complex in Mahwah.

Industrial
Value-add Meadowlands warehouse sells for $7.8 million, HFF says

An investment group has acquired a nearly 72,000-square-foot industrial building in Carlstadt, under a $7.77 million sale arranged by HFF.

Industrial
AY: Food distributor leases 101,000 sq. ft. in Fair Lawn

A food company has taken more than 100,000 square feet in Fair Lawn for a new packaging and distribution facility, brokers with Avison Young said Monday.

Industrial
Former Wayne lacrosse center lands new tenant, Zimmel says

A freestanding, 40,600-square-foot recreational center in Wayne has a new occupant, following a transaction announced by Zimmel Associates

Industrial
Cabinetry importer takes 111,000 sq. ft. in Ridgefield, Lee & Associates says

An importer and distributor of cabinetry has leased 111,000 square feet at a new industrial building in Ridgefield, in one of several newly announced transactions by Lee & Associates.

Professional Services
Colliers announces recent hires to New Jersey brokerage team

Colliers International is touting the recent addition of two young brokers in New Jersey.

Industrial
Self-storage REIT acquires 1,900-unit Newark property

An investment group has acquired a 158,000-square-foot warehouse and self-storage building in Newark, where it’s planning a series of upgrades and a new marketing campaign.

Industrial
Lyndhurst warehouse fetches $4 million, slated for self-storage redevelopment

A regional real estate firm has acquired a 28,000-square-foot warehouse in Lyndhurst, under a newly announced, $4 million deal by Team Resources Inc.

Policy Page
Trifecta of sweet spots: Urban revival, suburban makeovers and industrial boom

Commercial real estate developers and their professionals are a tough breed of entrepreneurs who thrive on thinking outside the box. My recent observation of presentations to the judges for NAIOP’s Deal of the Year awards (to be announced at the May 16 Gala), confirmed the latent creativity and tireless work ethic in this business — a business that is, in reality, all about hospitality and human resources as developers and brokers focus on creating amenity-rich spaces to compete for tenants and the modern workforce.