Large industrial sites in northern New Jersey now cost an average of nearly $1.8 million per acre, CBRE found, as surging demand and the scarcity of land continue to drive up pricing.
Three new leases and a renewal have contributed to more than 84,000 square feet of activity at a six-building office campus in Woodbridge, landlord KBS Realty Advisors announced.
The owner of a shopping center in Secaucus has sold the complex for $43 million, marking the second sale in four months of a retail property in the town’s Harmon Meadow section.
A logistics firm is set to occupy 401,000 square feet at a sprawling industrial park in Logan Township, under a recent lease with developer Dermody Properties.
Brokers with CBRE are seeking a buyer for a three-building, 50,000-square-foot industrial complex in Kenilworth, touting its proximity to Port Newark-Elizabeth and a lack of comparable properties in the immediate area.
CBRE has brokered the long-awaited sale of an industrial site in Long Hill Township, paving the way for a proposed redevelopment of the property as a new transit-oriented community.
Investors have paid $8.6 million to acquire a nearly 50,000-square-foot office building in Monmouth County, according to executives with CBRE and Weiss Realty Inc.
A private investment firm has paid $1.6 million for two adjacent medical condominium units in Riverdale, according to brokers with CBRE who arranged the transaction.
