Industrial owners in New Jersey are adapting to a climate of caution in the capital markets, cooling demand from tenants and growing local resistance to large warehouse projects. Some see it as a chance to double down in a market that they feel is still fundamentally sound, despite a slowdown in big-box leasing, as others pivot to different, more conservative approaches.
Bridge Industrial has made another deal under its growing acquisition platform, adding a 115,000-square-foot service facility in Linden.
In an interview, outgoing NAIOP New Jersey CEO Michael McGuinness reflected on a tenure that’s been marked by service, stability and impressive membership growth, as chapter leaders touted a record of persistent yet professional advocacy that has earned the respect of both industry executives and government officials throughout the state.
We asked commercial real estate industry leaders for their thoughts on NAIOP New Jersey CEO Michael McGuinness, who is retiring next month after more than 25 years in the role.
Bridge Industrial has secured $64.3 million in financing to build more than 200,000 square feet of new logistics space in Newark’s port district, brokers with JLL announced.
Bridge Industrial has completed its first deal in New Jersey under a recently launched value-add platform, acquiring more than 150,000 square feet of newly built space in Franklin Township.
Bridge Industrial has broken ground on a project that will add more than 1 million square feet of new warehouse and logistics space to Perth Amboy, while helping to repurpose another once-contaminated site along the city’s waterfront.
BlackRock Realty Advisors has purchased a nearly 300,000-square-foot industrial building in Piscataway for $80 million, in one of two deals announced by Lee & Associates New Jersey.
A nonprofit serving people with disabilities has raised nearly $2 million with the help of Bridge Industrial’s Jeff Milanaik, the veteran developer and longtime supporter of the organization.