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
Tulfra secures $11.7 million loan for warehouse, self-storage project in West Caldwell

Tulfra Real Estate has landed $11.7 million in financing for a repurposed industrial property in West Caldwell, where it recently inked a long-term, 68,000-square-foot lease and is now building a 760-unit self-storage facility.

Industrial
Vehicle shipping firm to operate Tesla warehouse in Kenilworth, Blau & Berg says

A property in Kenilworth will serve as a warehouse and shipping point for Tesla vehicles after a newly completed, 14,100-square-foot lease announced by The Blau & Berg Co.

Industrial
North Jersey industrial properties included in six-state, $183 million portfolio sale

Six industrial properties in northern New Jersey have changed hands as part of a six-state, $183 million portfolio sale announced Tuesday by Mandelbaum Salsburg P.C.

Industrial
Denholtz, meal delivery business ink 19,000 sq. ft. lease in Piscataway

A meal delivery service is the newest tenant at a Piscataway industrial park after agreeing to lease more than 19,000 square feet from Denholtz Associates.

Policy Page
We’ve heard this story before — it’s time for a different ending

Gov. Phil Murphy will give his budget message to the Legislature on Tuesday, March 5. As the voice of the commercial real estate development industry in New Jersey, NAIOP’s attention will be focused on the messaging that emanates from Trenton. Given the headlines over the last several months, we are rightly concerned about the state’s fiscal health and its ability to withstand a recession, which is all but certain by 2020.

Government & Public Policy
Murphy: Developers can seek up to $4 million under proposed historic tax credit program

Gov. Phil Murphy is hoping to lure new investors to some of the state’s oldest buildings, touting a proposed historic preservation tax credit as part of his plan to overhaul New Jersey’s embattled incentive programs.

Industrial
New 300,000 sq. ft. warehouse project marks new chapter after massive North Brunswick fire

A fulfillment and logistics business has committed to a 300,000-square-foot, built-to-suit facility in North Brunswick, giving new life to an industrial site that was leveled by a massive fire nearly four years ago.

Industrial
Duke breaks ground on 662,000 sq. ft. warehouse in Newark port submarket

Duke Realty has broken ground on a speculative, 662,000-square-foot industrial building in the heart of Newark’s port district.

Industrial
Sheldon Gross inks sale of Old Bridge warehouse

An auto dealer and transporter has purchased a 30,000-square-foot warehouse in Old Bridge, brokers with Sheldon Gross Realty said Thursday.

People
NAI Hanson hires associate for Bergen County sales team

By Joshua Burd NAI James E. Hanson has added to its brokerage team with the hiring of a new associate. The real estate services firm announced Wednesday that David M. Ukleja has joined its Teterboro office. In the new role,…