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.
A life sciences company is relocating within the Princeton submarket and will occupy a 47,000-square-foot office building in the Carnegie Center complex, JLL said Thursday.
Amazon has formally unveiled plans for three new fulfillment centers in New Jersey, adding to what is already a sprawling footprint across the state’s industrial real estate market.
JLL has continued the expansion of its retail brokerage team in New Jersey with the hiring of Eduardo Pena, an industry expert with more than 20 years of experience.
Sitex Group has acquired two industrial properties totaling 180,000 square feet in Totowa, adding to its portfolio of infill warehouses and distribution centers in North Jersey.
