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
Developers ink $15 million construction loan for Montvale self-storage project, JLL says

A joint venture has closed on a nearly $15 million construction loan for a planned 989-unit self-storage facility in Montvale, brokers with JLL announced last week.

Industrial
Vantage Commercial: Tire company buys 42,000 sq. ft. industrial property in Camden County

A tire distributor has acquired a 42,000-square-foot industrial building in the Blackwood section of Gloucester Township, brokers with Vantage Commercial announced last week.

Industrial
Cervenka, PREMIER break ground on 119,000 sq. ft. Denville warehouse for Zippy Shell

Construction is underway on a nearly 119,000-square-foot industrial building in Denville that will be home to a fast-growing moving and storage company.

Professional Services
NAIDB’s Gerace promoted to vice president

NAI DiLeo-Bram & Co. has promoted broker Kyle Gerace to vice president, touting his role in several major industrial deals and in strengthening the firm’s standing in the market.

Professional Services
Investment sales broker Avanzato joins NAI Hanson as part of new institutional services team

Real estate services firm NAI James E. Hanson has launched a new team focused on institutional clients, one that includes newly hired broker Jordan Avanzato as a senior managing director.

Finance & Capital Markets
JLL: Seagis nabs $184 million in financing for New Jersey, Florida industrial portfolio

Seagis Property Group has closed on more than $184 million in financing for a combined 1.5 million square feet of industrial space in New Jersey and South Florida.

Community
Cornhole for a Cause, popular AEC industry fundraiser, returning May 1 to Tranquility Farm

Members of the state’s design and construction community are gearing up for the 9th annual Cornhole for a Cause tournament in Morris County, a popular networking opportunity and fundraiser that will support United Way of Northern New Jersey.

Industrial
MIG Real Estate named leasing agent, property manager for 274,000 sq. ft. Ironbound complex

The owner of a 274,000-square-foot industrial and office building in Newark’s Ironbound section has tapped MIG Real Estate to manage and lease the property.

People
Former Mandelbaum, DeCotiis attorney Migliorelli joins Sanzari as V.P. and general counsel

Alfred Sanzari Enterprises has added longtime commercial real estate attorney Robert Migliorelli as vice president and general counsel, the Hackensack-based firm announced.

Industrial
Sheldon Gross brokers sale of 12,000 sq. ft. warehouse in Readington

The longtime owner of a nearly 12,000-square-foot warehouse in Readington has sold the property, in a newly announced deal by Sheldon Gross Realty.