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
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.

Industrial
Colony acquires Mahwah industrial building, seals North Jersey portfolio deal

Colony Capital Inc. has closed on its acquisition of a newly built, 271,176-square-foot distribution center in Mahwah, completing an 11-building portfolio sale that began last spring.

Professional Services
NAI Mertz names executive VP, managing director

NAI Mertz has deepened its bench with a longtime commercial real estate executive, who will help oversee its four offices in South Jersey and eastern Pennsylvania.

Industrial
Industrial user acquires 65,000 sq. ft. Newark building

A three-story industrial building off Interstate 78 in Newark has changed hands, following a sale brokered by the William F. Connors Agency.

Industrial
Matrix sells Hamilton truck terminal for $20.5 million, HFF says

An investor focused on logistics property has acquired a nearly 45,000-square-foot truck terminal in Hamilton, in a $20.5 million sale by brokers with HFF.

Industrial
Logistics firm takes 19,000 sq. ft. at new-look building in Teterboro

A supply chain solutions firm has leased nearly 20,000 square feet in Teterboro, under a newly announced transaction by NAI James E. Hanson.

People
Petrucci announces promotion, names director of property management

By Joshua Burd J.G. Petrucci Co. Inc. has announced a promotion within its property management team. The Asbury-based developer said Wednesday that it elevated Joni Elekes to director of property management. In the new position, she will continue to be…

Government & Public Policy
Longtime EPA official joins Kearny Point team, with a focus on green initiatives

Hugo Neu Group has bolstered the team overseeing its landmark Kearny Point project, tapping a longtime federal official to oversee environmental initiatives at the 130-acre site.

Industrial
Liberty adds industrial buildings in Meadowlands, Edison for $52 million

Liberty Property Trust has expanded its industrial holdings in New Jersey, acquiring properties in the Meadowlands and Edison for a combined $51.8 million.