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.
A flooring manufacturer has leased more than 70,000 square feet at a Somerset County industrial building, in the largest of several newly announced transactions by Team Resources Inc.
A maker of natural ingredients and chemicals has sold its 120,000-square-foot warehouse in Somerset County for $15.6 million, under a transaction by Atlantic Real Estate Services.
Levin Management Corp. has added to its leasing and management portfolio in New Jersey, taking over a 67,500-square-foot retail property in the Franklin Park section of Franklin.
Two tenants have combined to lease nearly 5,000 square feet at a two-building, 208,000-square-foot office building in Franklin Township, according to Cushman & Wakefield.
Landlords and developers are still reaping the rewards of New Jersey’s tight industrial market, where rents continue to rise well above average asking rates.
A maker of medical diagnostic tests has acquired a 17,000-square-foot flex building in the Somerset section of Franklin, following a transaction brokered by Zimmel Associates.