jll

JLL seeking buyer for 406-unit luxury rental property at Wood-Ridge’s Wesmont Station

A developer is looking to sell a 406-unit luxury apartment complex in Wood-Ridge, providing would-be buyers with a chance to own part of the landmark Wesmont Station property.

Industrial

Delivery startup Veho takes 149,000 sq. ft. at new Bridge Industrial campus in Philadelphia

Bridge Industrial has found its first tenant for a two-building campus in Philadelphia, leasing nearly 149,000 square feet to the ecommerce logistics firm Veho.

Editor’s Note

Transition time

I’ve come to learn that stories in our People on the Move section are among our most popular online and in print. I understand why — relationships in commercial real estate go back years or decades in many cases, meaning there’s no shortage of interest when a friend or business partner earns a promotion or a position at a new firm. That’s especially true when it comes to developers and owners, as I was reminded earlier this year when we covered two major moves by Accordia.

Office

JLL: Buyer wanted for high-end Parsippany office building, would-be redevelopment site

An office building in Parsippany is on the market for sale with more than 100,000 square feet of high-end, soon-to-be-vacant space or what brokers say is a redevelopment opportunity.

Office

ABS Management, Aerotek ink 18,000 sq. ft. lease at Parsippany office campus, JLL says

ABS Management has secured a new tenant at a refreshed office building in Parsippany, inking a lease for more than 18,000 square feet with a publicly traded staffing company.

Technology

A.I. cloud startup CoreWeave to build $1 billion data center at Onyx’s NEST campus in Kenilworth

A new $1 billion data center is coming to the Northeast Science & Technology Center — the sprawling former Merck & Co. campus in Kenilworth — where cloud computing firm CoreWeave has signed a long-term lease with Onyx Equities and Machine Investment Group.

Finance & Capital Markets

Developers ink $7 million permanent loan for new 41,000 sq. ft. warehouse in Randolph

A joint venture has landed $7 million in permanent financing for nearly 41,000 square feet of newly built warehouse space in Randolph, brokers with JLL announced Thursday.

Professional Spotlight

JLL Capital Markets facilitated the sale, joint venture acquisition equity and debt placement for 1 Electronics Drive, a 16-acre flex/industrial property located in Hamilton, Mercer County, New Jersey. Acting on behalf of the seller BTR Capital Group, JLL Capital Markets arranged the sale to Saxum Real Estate. Additionally, working on behalf of the new owner, JLL secured joint venture equity from Meadow Partners along with acquisition financing from Prime Finance.

Residential & Mixed Use

Buyer wanted for two-year-old, 232-unit rental property in Belleville, JLL says

The owner of 232 luxury apartments in Belleville has put the property on the market for sale, in an offering that comes just two years after the completion of the two-building development.

Industrial

Seagis buys new 211,000 sq. ft. Kearny warehouse in deal with Russo, River Development

Seagis Property Group has acquired more than 211,000 square feet of newly completed logistics space in Kearny, in a deal arranged by Cushman & Wakefield.