An importer of cured meats has relocated to New Jersey from Brooklyn, having signed a lease at a newly renovated co-working center in Hoboken.
The New Jersey industrial market has continued on its historic pace with vacancy rates dropping below 3 percent across the state. This has been driven by the unprecedented demand from online retailers and e-commerce-driven businesses desperate for warehousing and “last mile” distribution. E-commerce had already been on a rapid ascent for years with its share of the total retail market more than quadrupling since 2010. With the pandemic shuttering most brick-and-mortar locations for the better portion of 2020, e-commerce had taken on another level of growth. According to the U.S. Department of Commerce, sales increased 31.73 percent year over year, the fastest growth rate in 10 years, nearly doubling the second-highest growth rate of 17.81 percent in 2011.
LCOR, the developer tapped to transform the sprawling rail yards in southern Hoboken, has unveiled its team of design, construction and leasing professionals for the project.
A consulting firm focused on affordable housing has named a new senior vice president.
A developer has unveiled a new co-working space in Hoboken after completing an extensive renovation and rebranding of an 80,000-square-foot office building in the city.
The amount of available office space in New Jersey grew further in the second quarter, despite leases by technology and life sciences tenants and signs of improvement on the horizon.
An early childhood education center is preparing to open its second location in Hoboken, having signed a 13,000-square-foot sublease in the city’s northern end.
A joint venture has all but completed its lease-up of 424 new high-end apartments on Hoboken’s burgeoning west side.