Industrial
CBRE: Appetite for new logistics space in New Jersey among nation’s strongest

Vacancy at newly delivered industrial buildings in New Jersey was among the lowest in the nation in 2019, in yet another sign of the ongoing demand for modern logistics space.

Office
SJP acquires, details plan to transform Woodbridge office building

SJP Properties has acquired a 270,000-square-foot office building in Woodbridge, where it’s now planning an extensive renovation aimed at creating an environment for high-end tenants.

Professional Services
CBRE announces promotion, names new director of New Jersey project management

CBRE has promoted a member of its New Jersey project management team to director of the practice, the commercial real estate services firm announced Thursday.

Retail
Ex-Dressbarn site in Paramus fetches $2.2 million, CBRE says

The site of a former Dressbarn store in Paramus has changed hands for more than $2 million, following a transaction arranged by brokers with CBRE.

Deals
Nonprofit inks 22,000 sq. ft. lease in Hunterdon, CBRE says

A nonprofit social services organization is taking more than 20,000 square feet at a Hunterdon County office building, under a newly announced transaction by CBRE.

Office
KBS inks $311 million sale of six-building, 1.2 million sq. ft. office campus in Florham Park

An affiliate of KBS has sold a six-building, 1.19 million-square-foot office park in Florham Park for more than $300 million, in a transaction arranged by CBRE.

Professional Services
CBRE industrial broker promoted to senior vice president

A rising industrial broker with CBRE has earned a promotion, the firm said, touting him as one of the youngest industry professionals in New Jersey to be named a senior vice president.

Industrial
E-commerce train rolls on as industrial owners, brokers prepare for a roaring 2020

The economic engine powering the New Jersey industrial real estate market will continue to be the rapidly transforming retail sector, driven primarily by relentlessly rising demand from consumers for rapid home delivery of purchases, whether from online retailers or traditional but restructured brick-and-mortar retailers.

Office
Investor taps CBRE as leasing agent at 331,000 sq. ft. Parsippany office building

The new owner of a 331,000-square-foot office building in Parsippany has named CBRE as its leasing agent, with plans to renovate the property after acquiring it late last year.

Industrial
CBRE brokerage team touts $1.1 billion in New Jersey investment sales in 2019

A regional brokerage team with CBRE is hailing more than $1 billion in sales in 2019, highlighted by the $151.2 million trade of a nearly 320,000-square-foot logistics center in Secaucus.