A joint venture has broken ground on a three-story, 98,000-square-foot facility that will bring more than 800 self-storage units to Montville.
An investment firm has acquired a 100,000-square-foot industrial building in Fairfield as part of a sale-leaseback agreement with a manufacturer at the property.
The owner of a newly upgraded, 550,000-square-foot warehouse in Parsippany has tapped Cushman & Wakefield to market the complex to would-be tenants.
Users in New Jersey’s booming industrial sector have faced a severe lack of supply in recent years, leading to unprecedented rent growth and an unabated race to find development sites. New space is on the way — and plenty of it — with millions of square feet slated to come online in the next two years. Yet market experts say demand will continue to outpace supply, given the continued upside of e-commerce and a race by traditional retailers to update their supply chains.
CenterPoint Properties has expanded its New Jersey holdings with the acquisition of a nearly 75,000-square-foot industrial building in Jersey City.
A medical instruments company has leased more than 70,000 square feet of production space in Bloomfield, under a newly completed transaction by Team Resources Inc.
The owner of two Hillsborough business parks has inked 10 leases for combined 43,859 square feet, in a series of transactions by Sheldon Gross Realty.
A private equity investor has acquired a nearly 103,000-square-foot industrial building in the Meadowlands for $15 million, under a newly announced transaction by JLL.
The state’s industrial market saw a spike in renewal activity this summer, amid the ongoing lack of new supply and the unrelenting demand from tenants.