Faropoint has acquired a nearly 51,000-square-foot production and warehouse facility in Florham Park for $9.25 million, brokers with CBRE announced this week.
Faropoint and Deugen Development have closed on a $33 million construction loan for a new two-building industrial project in New Brunswick, in a deal arranged by Cushman & Wakefield.
Mapletree Investments Pte Ltd has sold a 1.8 million-square-foot industrial portfolio, including more than 270,000 square feet in New Jersey, to Faropoint for $328 million.
Faropoint and Deugen Development are set to begin construction on a project that will bring more than 195,000 square feet of new warehouse space to a key corridor in New Brunswick.
Faropoint has acquired more than nine acres in Cumberland County where it plans to develop some 74,000 square feet of high-end warehouse space, the Hoboken-based firm announced.
Faropoint, the Hoboken-based industrial real estate investment manager, has launched a $300 million fund targeting sale-leaseback deals in the asset class.
Hoboken-based Faropoint has added 1.7 million square feet of logistics space in the Southeast with a newly announced acquisition in Jacksonville, Florida and Memphis, Tennessee.
Faropoint, the fast-growing investment firm focused on last-mile industrial properties, has sold a minority stake in its business to Invesco Real Estate.
