A developer has plans for more than 750,000 square feet of new industrial space in Somerset County, touting a site that splits the difference between two major consumer destinations.
Experts believe the reforms will spur additional growth during an expansion that will soon be the second-longest in U.S. history, thanks in part to a sweeping cut to the corporate tax rate from 35 to 21 percent. That bodes well for New Jersey’s office and industrial landlords.
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.
A joint venture has acquired a 186-unit student housing building in downtown New Brunswick, with CBRE arranging more than $52 million in acquisition funding.
A fast casual Japanese chain has opened its first restaurant outside New York City, a 1,700-square-foot location at the base of a Jersey City office tower.
Construction is underway on a new 290,000-square-foot distribution center project just outside Port Newark-Elizabeth, according to brokers with CBRE who are marketing the property.
Despite years of consolidation by Big Pharma, New Jersey is one of a handful of markets that stand to gain from a promising growth trajectory for the U.S. life sciences sector.
