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.

Office
NGKF: Redevelopment, conversion projects increasingly help ‘prune’ N.J. office market

Large vacancies have loomed over northern New Jersey’s office market in recent years, but a series of redevelopment and adaptive reuse projects are now helping to make a dent in the region’s stubbornly high availability rate.

People
Supply chain expert joins Savills Studley industrial team

Savills Studley has hired a supply chain consulting professional in an effort to bolster its industrial services group, the tenant representation firm said this week.

Industrial
NAI Hanson: Two hair care distribution firms lease new space in Teterboro

Two industrial tenants serving the hair care industry are moving within Bergen County, following a pair of leases negotiated by NAI James E. Hanson.

People
Value-add firm hires three, promotes one to support new growth

Accordia Realty Ventures has expanded its asset management team and promoted a longtime employee in order to handle its growing pipeline, the firm announced.

Industrial
Stro Cos. touts 210K sq. ft. in flex, industrial acquisitions

The Stro Cos. has started the year by growing its industrial portfolio in northern and central New Jersey, acquiring five buildings spanning more than 200,000 square feet.

Finance & Capital Markets
Marcus & Millichap brokers $5.6 million loan for industrial sale

Marcus & Millichap has arranged $5.6 million in financing for the trade of a 161,000-square-foot warehouse building in Union County, the firm said Monday.

Industrial
CBRE: Tenant renewals bring ‘sticker shock’ in red-hot N.J. industrial market

Landlords in New Jersey’s industrial market are naming their price when it comes time for tenant renewals, as availability remains at low levels not seen in more than a decade.

Industrial
NAI Hanson brokers 126K sq. ft. sale-leaseback in North Bergen

A company has sold and leased back a North Bergen industrial building that houses its manufacturing and distribution business, in a deal brokered by NAI James E. Hanson.

Industrial
Hampshire sells Bergen County flex industrial building

The Hampshire Cos. has sold an 82,524-square-foot commercial building in Northvale to a firm that will take up occupancy at the property alongside an existing tenant.

Government & Public Policy
Christie: Raised Bayonne Bridge will open to larger ships by June 30 (VIDEO)

Supersized cargo ships will be able to pass under a newly raised Bayonne Bridge in order to reach Port Newark-Elizabeth as soon as June 30, marking a milestone in a $1.6 billion infrastructure project seen as critical to the state’s industrial real estate market.