Industrial
Blackstone buys Meadowlands development site for $8 million, CBRE says

The Blackstone Group has acquired a Lyndhurst development site that can accommodate more than 85,000 square feet of new warehouse and distribution space, brokers with CBRE announced.

Residential & Mixed Use
Investment group acquires 30-unit rental property in Hoboken (UPDATED)

A joint venture has closed on its second Hoboken apartment building in the last six months, acquiring a 30-unit property in the city for $15.5 million.

Industrial
CBRE: 3PL signs 171,000 sq. ft. lease at new Hillsborough industrial space

A third-party logistics firm has taken more than 170,000 square feet at a newly built, 750,000-square-foot distribution center in Hillsborough, brokers with CBRE announced Wednesday.

Industrial
Prologis acquires 212,000 sq. ft. Meadowlands warehouse

Prologis has added to its Meadowlands industrial portfolio with the acquisition of a fully occupied, 212,000-square-foot warehouse in Teterboro.

Retail
Mixed-use West New York building fetches $1.3 million, CBRE says

A private investor has acquired a 7,000-square-foot mixed-use property in West New York, brokers with CBRE announced this week.

Finance & Capital Markets
CBRE adds vice president to New Jersey debt and finance team

CBRE announced Tuesday that Thomas Didio has joined its Saddle Brook-based debt and structured finance team as a vice president.

Office
CBRE: Investor buys LVMH headquarters building in Springfield for $13 million

The Springfield office building that is home to LVMH Moët Hennessy Louis Vuitton SE, the French luxury goods conglomerate, has changed hands for $13.3 million.

Top News
A winning formula: How CBRE helped engineer some of New Jersey’s top office sales

In a time when investors have reaped windfalls from upgraded office buildings in New Jersey, CBRE’s capital markets team has been on the front lines — spearheading a host of high-profile deals involving newly stabilized, Class A buildings in the state.

Industrial
CBRE: Online returns, ‘reverse logistics’ fuel added demand for industrial space and 3PLs

The e-commerce explosion has fueled a surge in online returns — especially during the holiday season — driving additional demand for industrial space in New Jersey and nationally.

Editor’s Note
Policy watch

I’ll admit it: The prospect of writing about technical, complex environmental policy can be daunting and frustrating. Especially when it’s not your everyday beat. But there’s no getting around the importance of one policy in particular, at least when it comes to the future of New Jersey commercial real estate. If you polled a group of developers and service providers, many would tell you that the state’s Licensed Site Remediation Professional program has been critical, helping to unlock new opportunities at formerly contaminated sites and adding to the momentum of red-hot product types like industrial and multifamily. Some might find it hard to believe that next May will mark a decade since the program was born under the landmark Site Remediation Reform Act. But with that milestone fast approaching, the LSRP system is getting a fresh look from policymakers and stakeholders.