Over the last three months, New Jersey’s industrial market recorded nearly 10.0 million square feet of leasing activity, with big-box markets like Southern New Jersey and Exit 8A seeing a flurry of activity.
The brokerage team that has sold many of New Jersey’s most high-profile pharmaceutical campuses has its latest assignment — the 1.14 million-square-foot Bristol-Myers Squibb research and development complex in Hopewell.
Suburban office landlords who spruce up their buildings have seen tenants come calling, but continue to trail those offering space in urban locations and those served by mass transit.
A well-known broker in the state has joined CBRE as a senior vice president in its central New Jersey office, the real estate services firm said Monday.
Warehouse and distribution space in New Jersey has become a prized asset class among institutions and other major investors, leading to increased competition, surging prices and more creativity by those looking to add industrial to their portfolio.
Among the many changes that have come to New Jersey’s industrial market — especially those that have rallied investors — Rob Kossar points to the differences in how leases are structured.
The Exit 8A submarket continues to thrive in the state’s industrial sector, according to JLL, accounting for more than half of the leasing activity in northern and central New Jersey during the second quarter.
Real estate services firm JLL has completed a series of leases at a Prologis Inc. building in Secaucus, accounting for nearly 42,000 square feet of activity at the 143,057-square-foot property.
A pharmaceutical firm has more than tripled its footprint at a sprawling life sciences campus in Bridgewater, where it has signed a new lease for 18,072 square feet.
