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
Marcus inks sale of 15,000 sq. ft. Wood-Ridge warehouse for $3.7 million

The longtime owner of a 15,000-square-foot warehouse in Wood-Ridge has sold the property for $3.7 million, brokers with Marcus & Millichap announced Tuesday.

People
Sanzari promotes Schleer to vice president of construction

Alfred Sanzari Enterprises has promoted longtime team member John Schleer to vice president of construction, the Teaneck-based firm announced.

Industrial
BRC: Construction tech firm enters New Jersey with 12,000 sq. ft. lease in South Plainfield

A construction technology firm has signed a full-building, 11,500-square-foot industrial lease in South Plainfield, in a newly announced deal by Bussel Realty Corp.

Industrial
Hilco taps JLL’s Northeast industrial team for 1,300-acre logistics, innovation park in Philly

The firm behind what will be a massive logistics and innovation campus in Philadelphia has tapped JLL as its leasing agent for the site, including a first phase that will create more than 1 million square feet of high-end warehouse and distribution space.

Industrial
NAIDB: Service Truck Tire Center buys 67,000 sq. ft. Linden facility for $21 million

A commercial tire business has acquired a nearly 70,000-square-foot industrial building in Linden for $21 million, in a newly announced deal by NAI DiLeo-Bram & Co.

Finance & Capital Markets
Provident inks $19 million construction loan for Newark self-storage project, JLL says

A development team has landed a $19 million construction loan for a 1,332-unit self-storage project in Newark’s Ironbound section, according to a debt placement team with JLL.

People
STRO taps Otterbein, veteran of top New Jersey real estate firms, as controller

The STRO Cos. has hired a longtime commercial real estate industry executive in New Jersey as its new controller.

Industrial
ReadySpaces takes 82,000 sq. ft. at North Bergen industrial building

Co-warehousing firm ReadySpaces has leased more than 82,000 square feet in North Bergen, in a transaction arranged by the William F. Connors Agency.

Industrial
Camber, Advance sell 770,000 sq. ft. Bergen County industrial portfolio in deal with Faropoint

Camber Real Estate Partners and Advance Realty Investors have sold more than 770,000 square feet of industrial space in Bergen County, brokers with Cushman & Wakefield announced.

Residential & Mixed Use
CBRE: One-acre site near Bayonne studio project sold, slated for redevelopment

Texaco Downstream Properties has sold a one-acre parcel across from a planned 1 million-square-foot film studio project in Bayonne, in a newly announced deal by CBRE.