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
Cosmetics, perfume distributor buys Eatontown flex building for $5.5 million

A cosmetics and perfumes distributor will relocate within central New Jersey after acquiring a 75,000-square-foot flex building in Eatontown, according to the broker in the deal.

Industrial
Investor plans major upgrades at warehouse after $19M acquisition

A private investor has paid nearly $19 million for a North Brunswick warehouse, where it plans to nearly double the building’s clear height as part of a major capital improvement.

Professional Services
Three Avison Young brokers earn promotions

Avison Young has elevated two senior brokers and a young associate in New Jersey.

Industrial
Mertz brokers sale-leaseback in Gloucester County industrial park

A real estate firm’s subsidiary has sold and leased back a 55,000-square-foot industrial building in the Pureland Industrial Complex in Swedesboro, in a deal brokered by NAI Mertz.

Residential & Mixed Use
Newark rising: Successful projects breed confidence for what’s still to come, panel says

The Newark Regional Business Partnership’s annual Real Estate Market Forecast included an expert panel of developers and professionals. — Courtesy: Harold Banks/Prudential Financial

Industrial
Sitex Group inks 90K sq. ft. lease in Passaic County

A lighting company is growing its footprint with the signing of a new 90,000-square-foot lease in Passaic County with Sitex Group, the property owner said Tuesday.

Industrial
Team Resources brokers sale of Bergen County warehouse

Team Resources Inc. has announced the sale of a 51,000-square-foot, multitenant industrial building in Moonachie to a Ridgewood-based real estate investor.

Industrial
Blau & Berg tapped to sell Elizabeth warehouse site

The Blau & Berg Co. has been named the exclusive agent for the sale of a 400,000-square-foot warehouse complex in the ever-tightening Elizabeth submarket, the firm announced Tuesday.

Professional Services
AY to open new N.J. office after acquiring former Cresa team

Real estate services firm Avison Young has added a team of seven from the brokerage formerly known as Cresa NJ-North/Central LLC, as part of an acquisition of the business and a move to open a second New Jersey office in Middlesex County.

Industrial
Petrucci plans new spec warehouse in central N.J.

J.G. Petrucci Co. Inc. is set to develop a speculative 187,500-square-foot industrial facility in Somerset County after recently acquiring an 18-acre site, the firm said Monday.