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
Faropoint secures investment from Invesco Real Estate, eyeing continued growth

Faropoint, the fast-growing investment firm focused on last-mile industrial properties, has sold a minority stake in its business to Invesco Real Estate.

Industrial
Former longtime Heller leasing executive Paster joins BRC as vice president

Bussel Realty Corp. has deepened its bench with the addition of David Paster, a longtime leasing executive at Heller Industrial Parks and other New Jersey commercial real estate firms.

Hospitality & Tourism
TFE sells East Windsor hotel after three decades, adds first industrial flex property

TFE Properties has sold one of its longtime hotel properties in New Jersey, having also expanded to a new asset class with an acquisition less than 30 miles away.

Industrial
Newmark: Investor buys 405,000 sq. ft. industrial portfolio in Carteret, West Caldwell

A five-building, 405,000-square-foot portfolio of new industrial space in Carteret and West Caldwell has changed hands, in a deal arranged by brokers with Newmark.

Community
Mc Gowan Builders CEO gifts $25,000 to Meadowlands Y, prepares to conclude board service

Mc Gowan Builders CEO Patrick Mc Gowan has made another sizable gift to the Meadowlands Area YMCA, donating $25,000 to the organization as he prepares to step down from its board.

Finance & Capital Markets
Ridgecut, Marcus Partners ink $9 million refi for South Plainfield industrial parcel, C&W says

A joint venture has secured nearly $9 million in financing for an industrial outdoor storage property in South Plainfield, in a deal arranged by Cushman & Wakefield.

Industrial
Petrucci breaks ground on 107,000 sq. ft. industrial building off I-295 in Salem County

J.G. Petrucci Co. Inc. has broken ground on its latest industrial project in South Jersey, a 107,000-square-foot facility just north of Interstate 295 in Salem County.

Industrial
NAI Hanson: Magnetic materials company signs 13,000 sq. ft. renewal in Mahwah

A firm that specializes in magnetic materials has renewed its lease in Mahwah, where it occupies more than 13,000 square feet of industrial flex space near Route 17.

Deals
Vacant 2.3-acre parcel in Howell fetches $875,000, Sheldon Gross says

A plot of undeveloped land spanning more than two acres has changed hands in Howell for $875,000, brokers with Sheldon Gross Realty announced this week.

Industrial
NAIDB: Industrial buildings in East Brunswick, Piscataway trade for combined $15.5 million

Two Middlesex County industrial buildings totaling 77,000 square feet have changed hands for a combined $15.45 million, in a set of newly announced deals by NAI DiLeo-Bram & Co.