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.

Editor’s Note
Jumping in

Call me provincial, but I’m always fascinated these days when I hear that an established investor, developer or retailer that operates nationally is only now finding its way into the New Jersey market. With our labor pool, our consumer base and the all-important draw of being a discount from New York City, one can’t help but wonder what took them so long in the first place — especially in an expansion that goes back more than a decade.

Retail
LMC marks 1.2 million sq. ft. of deal activity in 2021, expects continued growth

Levin Management Corp. is marking a record year in which it closed 1.2 million square feet in transaction activity, in a hopeful sign for the health of brick-and-mortar retail.

Industrial
Redevelopment underway for Meadowlands industrial project, Premier Design + Build says

A project that will bring nearly 60,000 square feet of new industrial space to Moonachie is now underway, according to a team with Premier Design + Build Group.

Industrial
Connors inks 25,000 sq. ft. warehouse lease in North Bergen

An industrial user has leased nearly 25,000 square feet at a warehouse in North Bergen, the William F. Connors Agency announced recently.

Industrial
Newmark: Investors acquire 352,000 sq. ft. Gannett plant in Rockaway for $39 million

A joint venture has acquired a 352,461-square-foot printing plant in Rockaway for $39 million, in a deal arranged by Newmark’s tristate capital markets team.

Industrial
Velocity expands footprint in Pennsauken with purchase of 560,000 sq. ft. industrial property

Velocity Venture Partners has acquired a 560,000-square-foot industrial building in Pennsauken for $32 million, in the latest addition to its fast-growing portfolio in the township.

Professional Services
JLL adds senior vice president to lead Northeast industrial project management team

JLL has named a new senior vice president to lead its Northeast industrial project management group.

Professional Spotlight
Gilbane names new business development manager in Newark office

Gilbane Building Co. has tapped an engineering and construction industry veteran as the newest addition to its New Jersey business development team.

Finance & Capital Markets
JLL places $16.1 million loan for four-building, 390,000 sq. ft. Raritan Center portfolio

Summit Associates Inc. has refinanced a nearly 390,000-square-foot industrial portfolio in Edison for $16.1 million, brokers with JLL announced Thursday.

Industrial
Somerset hockey rink sold, slated to become warehouse space

The operator of a hockey rink in Franklin Township has sold the property to a buyer that is now slated to use it as warehouse space, according to brokers with Cushman & Wakefield.