Dermody Properties’ 1,100-acre logistics park in Logan Township has attracted a long list of well-known users over more than decade. And the firm is now set to enter its last phase of development — breaking ground on two buildings that will add another 563,000 square feet to the portfolio.
As you’ll find out in this month’s cover story, developers and brokers that have long focused on New Jersey are now stretching beyond the traditional boundaries of the state’s industrial market. And they are stretching them in every direction — for different reasons — in their quest to keep pace with tenants that are adopting a more regional approach.
An institutional investor has paid more than $147 million to acquire a 617,000-square-foot Amazon fulfillment center in Teterboro.
A recent ruling by the U.S. Supreme Court will likely raise the cost of some online sales and provide an infusion of revenue for New Jersey’s state coffers, but its impact on commercial real estate may be limited.
Newark city officials have formalized a $2 billion incentive package meant to attract Amazon’s second headquarters project, one that could also be used to lure other companies that would deliver a similar economic impact.
Experts say Newark is enjoying not only a surge of new private-sector investment, but also a level of interest that is helping to break the stigma that has plagued it for decades.
A veteran broker with CBRE was the firm’s top industrial producer in the Americas in 2017, with a series of deals headlined by high-profile transactions in Edison and Perth Amboy.
Amazon has taken the wraps off its newest fulfillment center in New Jersey, a 650,000-square-foot facility in Gloucester County that will house more than 1,000 employees.
If recent moves by Google and Amazon are any indication of what’s to come in Manhattan, the residential market on New Jersey’s Gold Coast could be among the biggest winners.
Retailers accounted for more than a third of all industrial gains in northern and central New Jersey at the end of 2017, according to JLL, fueling what amounted to the second-highest net absorption total of any year since the recession ended.