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
Atlantic touts 278,000 sq. ft. industrial lease with Adler, 3PL user

A third-party logistics firm has moved into a newly built warehouse in Piscataway, following a nearly 280,000-square-foot lease arranged by Atlantic Real Estate Services.

Professional Services
Veteran NAI Hanson broker promoted to VP

NAI James E. Hanson has promoted one of its longtime industrial brokers.

Industrial
CBRE: Lease terms continue to grow in booming N.J. industrial market

Developers and owners have reaped the benefits of rent growth in New Jersey’s surging industrial market, but they’ve also scored big with increasingly longer lease terms.

Industrial
LEG closes on Bayonne site for 1.6 million sq. ft. industrial park

Lincoln Equities Group has completed its purchase of a 153-acre waterfront site in Bayonne, where it’s planning some 1.6 million square feet of new warehouse and distribution space.

Events
SIOR New Jersey honors top office, industrial deals of 2017

Many of the state’s top commercial brokers gathered recently for an annual event hosted by the Society of Industrial and Office Realtors, where the organization recognized some of the Garden State’s top deals of 2017.

Industrial
Machemer joins Crow Holdings Industrial, with plans to grow Northeast footprint

Clark Machemer, a prominent New Jersey development executive, has joined Crow Holdings Industrial to lead the firm’s newly established office in the Northeast.

Industrial
Colliers touts sale of Camden County industrial building

An industrial building in Camden County has changed hands for $2.5 million, following a sale announced last week by Colliers International.

Industrial
Team Resources touts $14 million industrial sale in Meadowlands

An investment group has paid more than $14 million for a 100,000-square-foot industrial building in East Rutherford, brokers with Team Resources Inc. said Wednesday.

Industrial
Piscataway building sells for $3.2 million, Atlantic says

A medical imaging company has sold a 30,600-square-foot industrial building in Piscataway, in a $3.2 million transaction arranged by Atlantic Real Estate Services.

Trend Watch
Big box space conundrum

At mid-2Q 2018 only three Class A industrial buildings larger than 500,000 square feet were available for lease throughout New Jersey. The shortage of space caused leasing to slow down at the start of the year without any big-box leases signed in first five months of 2018. On a positive note, five buildings greater than 500,000 square feet are set to break ground in 2018.