A former Prologis executive has joined Advance Realty Investors to spearhead the firm’s pipeline of industrial projects.
A joint venture is reaping the rewards of a plan to reposition a sprawling research and development complex in Bridgewater, having sold the campus for more than $150 million. All the while, the deal has cast a light on the allure of life sciences as a real estate investment class and the power of collaboration by brokers across multiple geographic markets.
Users in New Jersey’s booming industrial sector have faced a severe lack of supply in recent years, leading to unprecedented rent growth and an unabated race to find development sites. New space is on the way — and plenty of it — with millions of square feet slated to come online in the next two years. Yet market experts say demand will continue to outpace supply, given the continued upside of e-commerce and a race by traditional retailers to update their supply chains.
A joint venture has reaped more than $150 million from the sale of a high-profile life sciences campus in Bridgewater, under a recent transaction by Newmark Knight Frank.
Demand for cold storage warehouse space nationwide, and particularly in the Garden State, is on fire, largely because of rising online fresh grocery sales and changing consumer preferences for fresher foods. Meeting that demand could prove challenging — given the cost and complexity of such projects and the need for specialization — but some developers are positioning themselves to be ready when users come calling.
Advance Realty Investors has obtained a $72.5 million construction loan that will pave the way for it to transform an aging mall in western Morris County, Cushman & Wakefield announced.
A joint venture has sold more than 500,000 square feet of light industrial space in Morris County, closing the deal less than two years after acquiring the four-building portfolio.
A joint venture has leased 50 percent of the apartments at its recently delivered, 280-unit luxury residential building along the Harrison waterfront.
A joint venture has kicked off what it says will be the largest active industrial project near the Port of New York and New Jersey, breaking ground on a 4.1 million-square-foot logistics park at a long-vacant site in Linden.
Advance Realty Investors has hired longtime industry executive Tom Walsh, who will help oversee development and construction for its fast-growing portfolio and for third parties.