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.

People
Veteran policy, planning expert Kennedy joins NAIOP New Jersey as part of CEO transition

Dan Kennedy has joined the leadership team of NAIOP New Jersey, marking the start of a transition period in which he’ll work alongside CEO Michael McGuinness before succeeding him at the helm of the commercial real estate development association.

Industrial
Dermody buys Gloucester development site for 214,000 sq. ft. industrial project, C&W says

Dermody Properties has acquired a Gloucester County development site with approvals in place to build more than 214,000 square feet of new industrial space.

Industrial
Treetop adds 245,000 sq. ft. flex portfolio in Wall with $41 million deal, CBRE says

Treetop Cos. has acquired more than 245,000 square feet of flex industrial space in Wall Township for $40.5 million, in a newly announced deal by CBRE.

Features
McGuinness reflects on 26 years at NAIOP, as industry leaders praise outgoing CEO

In an interview, outgoing NAIOP New Jersey CEO Michael McGuinness reflected on a tenure that’s been marked by service, stability and impressive membership growth, as chapter leaders touted a record of persistent yet professional advocacy that has earned the respect of both industry executives and government officials throughout the state.

Features
High praise: NAIOP leaders pay tribute to outgoing CEO McGuinness

We asked commercial real estate industry leaders for their thoughts on NAIOP New Jersey CEO Michael McGuinness, who is retiring next month after more than 25 years in the role.

Industrial
Blau & Berg inks 31,000 sq. ft. sublease at Elizabeth truck terminal

A trucking company has signed a 31,000-square-foot sublease for a terminal facility in Elizabeth, in a newly announced deal by The Blau & Berg Co.

Industrial
NAI Hanson inks sale of 8,000 sq. ft. Hackensack warehouse

An owner-occupier has purchased a nearly 8,000-square-foot industrial building in Hackensack, in a newly announced deal by NAI James E. Hanson.

Finance & Capital Markets
Developers ink $180 million construction loan for 1.7 million sq. ft. Pennsville logistics park

A joint venture has secured a $180 million construction loan for what will be a two-building, 1.7 million-square-foot industrial park just off the Delaware Memorial Bridge in Salem County.

Industrial
Bathroom products wholesaler moving from Secaucus, takes 70,000 sq. ft. in Pennsylvania

A distributor of luxury bathroom products is relocating from Secaucus after leasing 70,000 square feet of industrial space in Central Pennsylvania, brokers with CBRE said Monday.

Finance & Capital Markets
Investor snags $10 million acquisition loan for 125,000 sq. ft. flex, office building in Whippany

The buyer of more than 125,000 square feet of flex warehouse and office space in Hanover has secured $10 million in financing for the deal, according to a team with Progress Capital.