Developers are on track to remove nearly 9 million square feet of obsolete office space in New Jersey, as they repurpose the sites with in-demand uses such as industrial and apartments.
A home fashions distributor has acquired a 60,000-square-foot industrial building in the Somerset section of Franklin, in a newly completed transaction by GM Realty Advisors Inc.
An investment fund has acquired more than 15 acres in the Somerset section of Franklin, where it plans to break ground next year on a new 176,000-square-foot industrial building.
A vacant 200,000-square-foot office building in Somerset County is on the market for sale, providing what brokers say is a redevelopment opportunity in a growing industrial submarket.
A picture frame manufacturer has acquired a roughly 45,000-square-foot industrial building in the Somerset section of Franklin, in a newly announced transaction by CBRE.
A well-known candy and fruit snack manufacturer has leased more than 300,000 square feet of industrial space in Somerset County, in a newly announced deal by Sheldon Gross Realty.
AvalonBay Communities Inc. has sold a 384-unit luxury multifamily complex in the Somerset section of Franklin, under a newly announced transaction by JLL.
A developer has secured a $12 million loan in connection with a new 61-unit apartment building in the Somerset section of Franklin, brokers with JLL announced Thursday.
