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
BRC: Rahway warehouse fetches $19.8 million

A buyer has paid nearly $20 million for a 256,000-square-foot industrial facility in Rahway, in a newly announced transaction by Bussel Realty Corp.

Professional Services
Savills drops ‘Studley’ from name as part of U.S. rebrand, global focus

Tenant advisory firm Savills Studley is dropping the second half of its name as part of a new rebranding campaign — one that includes commercials during the upcoming NCAA men’s basketball tournament.

Top News
JLL to acquire HFF for $2 billion

Real estate services giant JLL has agreed to acquire HFF for roughly $2 billion, greatly bolstering its platform with one of the industry’s leading capital markets firms.

Events
NAIOP reveals deal of the year finalists for upcoming gala

NAIOP New Jersey has announced the finalists for its coveted Deal of the Year awards, highlighting six of the state’s most impactful projects and transactions of 2018.

Government & Public Policy
EDA aims to lure grocery co-op from Staten Island, keep food service firm in Paterson

The state is hoping to coax a supermarket co-op to move its offices from Staten Island to Old Bridge as part of a recently approved tax credit incentive, as it moves to keep another food-related company from moving jobs out of New Jersey.

Government & Public Policy
EDA: Biopharma firm mulls purchase of 85,000 sq. ft. Somerset building

A biopharmaceutical company is weighing plans to acquire an 85,371-square-foot industrial building in Franklin, having won approval for a 10-year, $13 million tax credit package from the state Economic Development Authority.

Professional Services
Garibaldi adds first-ever managing broker as part of historic rebrand

The Garibaldi Group has hired a veteran broker and consultant who will play a key role in the firm’s efforts to revamp and expand its real estate services platform.

Industrial
C&W named property manager for 1.1 million sq. ft. Newark industrial complex

The new owners of the former P. Ballantine & Sons brewery site in Newark has tapped Cushman & Wakefield to manage the 1.1 million-square-foot complex.

Industrial
Grocery distributor takes 18,000 sq. ft. in Hillside, BRC says

A grocery distributor is set to relocate to an 18,000 square-foot industrial space in Hillside, following a lease arranged by brokers with Bussel Realty Corp.

Industrial
NAI Hanson: Microbrewery takes 8,000 sq. ft. in New Providence

A microbrewery has committed to nearly 8,000 square feet at a New Providence industrial building, under a newly completed transaction by NAI James E. Hanson.