A global transportation and logistics company has expanded to more than 280,000 square feet in Morris County, in a set of transactions announced by Team Resources Inc.
CBRE has announced an expanded role for its market leader in New Jersey, in an effort to expand the firm’s focus in the region’s industrial and logistics sector.
As New Jersey has shown, the industrial sector has become the new darling of commercial real estate in recent years. That was all too clear from the sold-out crowd of more than 850 development executives and other key players who descended on this year’s I.CON event in Jersey City.
Developers and owners have reaped the benefits of rent growth in New Jersey’s surging industrial market, but they’ve also scored big with increasingly longer lease terms.
Many of the state’s top commercial brokers gathered recently for an annual event hosted by the Society of Industrial and Office Realtors, where the organization recognized some of the Garden State’s top deals of 2017.
Lincoln Equities Group has completed new leases and a renewal at properties near Princeton and Morristown, including deals with a hospital network and a major financial services organization.
A fulfillment and logistics firm will be the latest tenant at a new three-building, 1.3 million-square-foot industrial complex in Perth Amboy acquired by Duke Realty late last year.
