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
NAIDB: Six-building, 165,000 sq. ft. industrial site in Fair Lawn trades for $8.8 million

A private investor has acquired more than 165,000 square feet of industrial space in the Bergen County borough of Fair Lawn, in a newly announced deal by NAI DiLeo-Bram & Co.

Industrial
CenterPoint preleases 322,000 sq. ft. Linden industrial project to logistics firm

CenterPoint Properties has preleased more than 320,000 square feet of new industrial space under construction in Linden, securing a deal with a locally based third-party logistics firm.

Finance & Capital Markets
JLL: Delta Equity Management refis new 196,000 sq. ft. industrial building

The developer of a new distribution center in Bayonne has secured funds to refinance the nearly 196,000-square-foot property, according to a debt placement team with JLL.

Finance & Capital Markets
STRO, Valley ink $11 million refi for 81,000 sq. ft. Hackensack industrial park

The STRO Cos. has secured an $11 million loan to refinance an 81,000-square-foot industrial park in Hackensack.

Events
IOREBA panel conveys optimism, pragmatism amid market uncertainty (SLIDESHOW)

Speaking at IOREBA’s annual Developers Night, a panel of industry leaders offered both optimism and assuredness, but also frustration about a market that is still fundamentally strong in many respects but grinding along in the face of economic headwinds.

Deals
Self-storage developer buys Totowa office building, plans conversion

A developer has purchased a nearly 96,000-square-foot office building in Totowa that it now plans to convert to self-storage space, in a newly announced deal by The Blau & Berg Co.

Professional Services
Kislak sees opportunity in market uncertainty, backed by deep ties and decades of service

Leaders of The Kislak Co. Inc. see a resilient market and sustained demand from property investors in 2023 — despite a short-term slowdown amid rising borrowing costs — arguing that buyers and sellers will still find value in multifamily and commercial assets.

Industrial
Former Dermody exec Preston joins BBX Logistics advisory committee

Gene Preston, the former Dermody Properties executive and NAIOP New Jersey president, has joined the advisory committee of a Fort Lauderdale, Florida-based industrial developer.

Industrial
Zimmel: New ground-up 55,000 sq. ft. warehouse coming soon to Hillsborough

Adoni Property Group is set to deliver nearly 55,000 square feet of new industrial space in Hillsborough, having tapped Zimmel Associates as its leasing team for the building.

Industrial
Urban Edge leases 286,000 sq. ft. at East Hanover industrial park

Urban Edge Properties has leased more than 286,000 square feet of industrial space in East Hanover after securing new long-term commitments from two tenants.