New York Life Real Estate Investors has completed a $65 million loan to the developer of a nearly 420,000-square-foot industrial building in Kearny.
Investors Bank has closed nearly a dozen commercial real estate loans valued at $227 million in recent months, including more than $90 million in transactions for its New Jersey clients.
Russo Development is hailing continued success in Kearny, having leased 20 percent of its latest luxury apartment complex in the municipality.
Hugo Neu Corp. has unveiled a collection of about 200 private offices at its Kearny Point campus, providing an option for tenants seeking an alternative to the crowded, collaborative spaces that run counter to social distancing guidelines.
The pandemic has not stifled rent growth in New Jersey’s industrial market, as Amazon and other e-commerce users continue to drive leasing and construction activity statewide.
Three apartment buildings in western Hudson County have changed hands for $2.3 million, according to Cervelli Real Estate & Property Management.
Amazon is adding to its already-vast footprint in New Jersey, announcing plans for 14 new locations geared toward the last mile of its fulfillment process.
Russo Development has taken the wraps off its third luxury apartment property in Kearny, delivering another 268 units to the Hudson County town.
Amazon continued its rapid expansion in New Jersey in the first quarter, accounting for three of the top five industrial leases in northern and central New Jersey to start the year.
Russo Development has delivered more than 500 apartments in Kearny since mid-2018, with hundreds more in its pipeline, seeing an opportunity in a town that is minutes from downtown Newark and the ability to capture renters who are priced out of neighboring submarkets.