Industrial tenants leased about 5.5 million square feet in northern and central New Jersey during the second quarter, a new report finds, as vacancy continues to drop to historic lows.
The developer of a two-year-old, 139,900-square-foot retail center in Hudson County has sold the property to a fund managed by Bentall Kennedy, brokers with Cushman & Wakefield said.
A joint venture is reaping the benefits of a plan to upgrade and add new amenities to a Florham Park office complex, where brokers have inked four new leases and a renewal.
A seven-building industrial and flex complex in Fairfield has changed hands for $30 million, in a transaction arranged by brokers with Cushman & Wakefield.
A clothing manufacturer has sold and leased back its nearly 320,000-square-foot distribution center in South Brunswick, in a deal arranged by Cushman & Wakefield.
A joint venture has picked Cushman & Wakefield as its leasing agent for more than 3 million square feet of planned warehouse and distribution space in Gloucester County.
A steel exporter has renewed for nearly 11,000 square feet at a Matawan office building, one of seven transactions announced Tuesday by Denholtz Associates.
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.
