A developer has secured a $395 million loan for a portfolio of multifamily assets, including the former Newark Bears stadium site where plans now call for 4,200 residential units.
The owner of a 129-unit apartment portfolio in Union and Essex counties has landed more than $10 million in financing, in a newly completed transaction by Cronheim Mortgage.
A food-related tenant is taking more than 44,000 square feet at a Linden industrial building, in a lease arranged by Bussel Realty Corp.
A flavor and food ingredients company has purchased an 8,000-square-foot industrial building in Linden for more than $1 million, according to brokers with Bussel Realty Corp.
After building its New Jersey portfolio to nearly 8 million square feet in recent years, Duke Realty Corp. is poised for further growth in the state with several high-profile developments underway.
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.
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.
A development and leasing team recently welcomed dozens of brokers to a virtual open house for a planned eight-building, 4.1 million-square-foot logistics park in Linden, complete with a construction update, aerial drone footage and a networking session for those on the call.
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.