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.

Professional Services
Lee & Associates adds longtime N.J. property management exec

Lee & Associates has hired a veteran property management executive to help expand the firm’s practice and support its existing clients in New Jersey.

Industrial
JLL: Investors plan upgrades after acquiring 1.1 million sq. ft. Newark industrial complex

A joint venture has acquired the former Ballantine Brewery site in Newark for $61 million, adding a 1.1 million-square-foot, multitenant industrial complex in the port submarket.

Industrial
Tulfra sells 13,000 sq. ft. industrial condo in Clifton

Tulfra Real Estate has sold the final piece of an industrial condominium property in Clifton, inking a deal with an existing occupant that plans to expand within the building.

Professional Services
Transwestern eyes growth in asset management, adds senior VP

A longtime property management executive has joined Transwestern as a senior vice president based in its Florham Park office.

Industrial
Tulfra inks $10.3 million loan for Rochelle Park self-storage project

Tulfra Real Estate is on track to begin its redevelopment of a former AT&T data center site in Rochelle Park after landing a $10.3 million construction loan for a new self-storage facility.

Industrial
Blackstone buys Meadowlands development site for $8 million, CBRE says

The Blackstone Group has acquired a Lyndhurst development site that can accommodate more than 85,000 square feet of new warehouse and distribution space, brokers with CBRE announced.

Industrial
NAI Hanson inks sale of 7,800 sq. ft. Hackensack property

An electrical contractor has acquired a 7,800-square-foot industrial and flex property in Hackensack, under a transaction arranged by NAI James E. Hanson.

Events
NAIOP panel: Disruptors abound in CRE, from co-working to reverse logistics

Commercial real estate faces no shortage of disruptive forces, a panel of industry leaders told NAIOP New Jersey last week, citing everything from ridesharing services and automation to changing corporate and consumer preferences.

Industrial
Stro acquires 55,000 sq. ft. industrial portfolio in Clifton

The Stro Cos. has added to its holdings in Clifton with the acquisition of a two-building, 55,000-square-foot portfolio in the city.

Events
NAIOP unveils 2019 gala honorees, installs new chapter president

NAIOP New Jersey will honor two of the industry’s top players in capital markets and commercial mortgage banking as part of its annual awards gala this spring, where it will also recognize a pair of influential developers and one of the state’s longest-serving mayors.