Top News

Record rent growth continues in N.J. industrial market

By many accounts, rent growth in New Jersey’s industrial sector continues to be unprecedented. Research from multiple real estate service firms shows that average rental rates across the market hit several milestones this summer.

Industrial

New lease structures, longer terms take hold in N.J. industrial market

Among the many changes that have come to New Jersey’s industrial market — especially those that have rallied investors — Rob Kossar points to the differences in how leases are structured.

The Rundown

KPMG mulling another expansion in Montvale, report says

Less than six months after starting construction on a new technology center in Montvale, KMPG LLP reportedly is seeking to expand its footprint in the borough once again.

Office

Developer aims to transform historic Kearny shipyard into 21st-century workspace

Hugo Neu Corp. is redeveloping the former Federal Shipbuilding and Drydock Co. in Kearny as a hub of flexible office space for startups, creative businesses and others seeking a modern workplace. It aims to do so while taking advantage of the historic, architecturally distinct buildings on the 130-acre site, some of which offer the type of soaring ceilings and open-air feel that appeals to edgier tenants.

Industrial

NAI Hanson marketing new 271,000 sq. ft. warehouse in Mahwah

A developer has tapped brokers with NAI James E. Hanson to market a new 271,195-square-foot warehouse under construction along the northern edge of Bergen County.

Office

Biotech startup commits to former Roche campus in Nutley, reports say

A biotech firm has reportedly opted to move its headquarters from Brooklyn to a piece of the former Hoffmann-LaRoche campus in Nutley, following the approval of a $32.3 million state tax credit aimed at luring the company to New Jersey.

Professional Services

Architecture firm completes redesign of county college media center

A library at the Essex County College campus in Newark is reopening this month as a modern media center and student lounge, following a project designed by an area architecture firm.

Industrial

Saddleback moving headquarters to Fairfield

A developer is doubling down on the Fairfield industrial market, announcing plans to move its headquarters there amid a growing effort to build its portfolio in the area.

Industrial

Exit 8A: The top 10 industrial leases during Q2, according to JLL

The Exit 8A submarket continues to thrive in the state’s industrial sector, according to JLL, accounting for more than half of the leasing activity in northern and central New Jersey during the second quarter.

Government & Public Policy

Growing life sciences firms, Big Pharma giant offered EDA incentives

State officials have approved tax credits meant to help three pharmaceutical firms grow the industry’s footprint in New Jersey, while also dangling a nearly $40 million incentive to keep a global life sciences giant from pulling its U.S. headquarters out of the state.