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
Logistics firm inks full-building, 469,000 sq. ft. sublease at Piscataway warehouse, C&W says

A logistics user has signed a sublease to take over a 469,000-square-foot industrial building in Piscataway, in a newly announced deal by Cushman & Wakefield.

Industrial
Blau & Berg: PSEG buys Kenilworth warehouses amid plan to expand substation

Public Service Electric & Gas has acquired two adjacent properties in Kenilworth that will allow it to expand its electrical grid, brokers The Blau & Berg Co. announced Monday.

Industrial
Bridge Industrial buys two-level, 128,000 sq. ft. property in Queens

Bridge Industrial has added to its footprint in the region after acquiring more than 128,000 square feet in the New York City borough of Queens.

Events
An uneven recovery? NAIOP panelists see different paths for different asset types in 2024

The state’s industrial and office sectors both faced headwinds in 2023, but the year ahead for each asset class may be decidedly different. That was a key takeaway last week from panelists at NAIOP New Jersey’s Annual Meeting and Commercial Real Estate Outlook, who noted that demand for warehouse and logistics space has normalized after a record-breaking run during the pandemic. Office landlords, meantime, are still grappling with shrinking corporate footprints and remote work policies, further straining submarkets that are both aging and oversupplied.

Professional Services
CBRE adds industrial specialist Shoemaker to focus on multimarket clients

Industrial broker Stephen Shoemaker has joined CBRE as a senior vice president, with a focus on multimarket occupiers in the asset class.

Industrial
Sitex promotes Fuchsman to vice president

Sitex Group has promoted Max Fuchsman to vice president, touting his role in growing the industrial real estate investment firm since his arrival in 2022.

Top News
Saxum hits nearly $1.1 billion in total capitalizations for investments, developments in 2023

Saxum Real Estate is marking a banner year after investing in a series of cold storage, industrial and multifamily assets and projects with a combined value of more than $1 billion.

Industrial
Roca Tile moving to Edison under 80,000 sq. ft. lease with Wick Cos., CBRE says

A designer tile company has leased more than 80,000 square feet at an Edison industrial building, in a newly announced transaction by CBRE.

Industrial
C&W: Developers buy Hamilton parcel slated for 420,000 sq. ft. industrial project

A joint venture has purchased more than 48 acres in Hamilton with approvals to build a new 420,000-square-foot industrial facility, brokers with Cushman & Wakefield announced.

Professional Services
LMC touts 1 million sq. ft. in 2023 deal volume amid retailer demand, reinvestment trend

Sustained demand for modernized, well-located retail space remains a driving force for Levin Management Corp., fueling more than 1 million square feet in deal volume last year across the firm’s portfolio of client properties.