Commercial real estate investors across five New Jersey counties took a cautious approach during the coronavirus outbreak, as transaction volume fell through the first half of the year.
An investment team led by Crow Holdings Industrial has sold a newly built, 925,000-square-foot warehouse in Franklin Township for $164 million.
With its first project nearing completion and a tenant in hand, Crow Holdings Industrial is keenly focused on what comes next for its Northeast expansion strategy. The firm has a pipeline in the region amounting to more than 7 million square feet, with the potential to deliver much-needed warehouse and logistics space to a vastly undersupplied market.
We learned last September that a developer has proposed building a 135,000-square-foot studio complex in Jersey City, with the very purpose of capturing the production companies that it says are coming here because of the film tax credit incentive. As you’ll read in this month’s cover story, other developers and property owners are making a similar bet, amid surging demand from the film and television industry.
Crow Holdings Industrial has inked a 925,000-square-foot lease in Franklin Township with LG Electronics USA, landing a high-profile tenant at its first New Jersey warehouse project.
Crow Holdings Industrial has broken ground on a 925,000-square-foot warehouse project in Franklin Township, its first New Jersey project after entering the market last year.