After decades of consolidation by Big Pharma, demand for modern lab and diagnostic space in New Jersey is on the rise, fueling rent growth and pushing some developers to consider new laboratory projects.
A development and leasing team recently welcomed dozens of brokers to a virtual open house for a planned eight-building, 4.1 million-square-foot logistics park in Linden, complete with a construction update, aerial drone footage and a networking session for those on the call.
Advance Realty Investors has tapped Cushman & Wakefield as its leasing agent for a cluster of Somerset County office buildings spanning more than 140,000 square feet.
Thor Equities Group has landed a major tenant at its newly acquired life sciences campus in Bridgewater, inking a 101,500-square-foot lease with a biopharmaceutical company.
As you’ll read in this month’s cover story, a project aims to revive what should be prime real estate in East Brunswick, one that hugs a highway with daily traffic of 100,000 vehicles.
A joint venture is nearing the start of construction for its first two buildings at a long-awaited, 4.1 million-square-foot warehouse and logistics park in Linden.
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.