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.
Bridge Development Partners has acquired the rights to build nearly 4 million square feet of industrial space near Interstate 78, following its $43 million purchase of a sprawling development site in Warren County.
At least for 2017, industrial became the new darling of institutional investors. Here are the top 10 industrial sales in New Jersey of 2017, according to Real Capital Analytics.
Jon F. Hanson of The Hampshire Cos. will be among the top honorees this spring at NAIOP New Jersey’s annual awards gala, headlining a list of influencers and key industry players.
After the sale of more than 3 million square feet of industrial space in New Jersey — part of a three-state, $700 million deal announced earlier this fall — Bridge Development Partners is well on its way toward refilling its pipeline in the Garden State. Jeff Milanaik, regional partner for Bridge, said the firm is under contract for a series of sites in northern and central New Jersey that could pave the way for another 6 million square feet of development activity.
Warehouse and distribution space in New Jersey has become a prized asset class among institutions and other major investors, leading to increased competition, surging prices and more creativity by those looking to add industrial to their portfolio.
Big box leases continued to drive New Jersey’s industrial market to start the year, keeping a lid on vacancy as speculative construction carries on throughout the region.
Bridge Development Partners LLC has sold its newly developed industrial building in Union for $46.5 million, reaping the success of its first project in New Jersey after entering the market in 2014.