Prologis Inc. will add nearly 10 million square feet to its New Jersey portfolio after agreeing to acquire Duke Realty Corp., in an all-stock, $26 billion transaction that spans more than 150 million square feet of combined industrial space in 19 major U.S. markets.
Prologis has tapped a construction industry veteran as a new vice president and development officer in the company’s New Jersey and New York region.
Prologis has acquired a 10-acre parking and maintenance property in South Brunswick that it’s now leasing back to the seller and other tenants, according to brokers with Avison Young.
Demand for parking in and around industrial properties has soared in New Jersey, fueled largely by the use of large delivery fleets, spurring changes in building design and creating new revenue streams for industrial owners.
Hartz Mountain Industries is planning some 515,000 square feet of new industrial space in Teterboro after recently completing a 30-acre assemblage along Route 17.
The race to attract quality labor has led industrial developers and users to focus increasingly on wellness-oriented design and features, but that shift has become all the more important in recent months as occupiers look to keep employees safe from COVID-19.
An office systems and furniture company is staying in place in the Meadowlands after signing a renewal for more than 26,000 square feet, brokers with NAI James E. Hanson announced.
How will industrial building design, construction or functionality change in 2021? We assembled a panel of industry experts to tackle this month’s question.
Industrial leasing stayed strong in New Jersey ahead of the COVID-19 outbreak, as experts now wait to determine the long-term impact of the pandemic on the state’s surging market for warehouse and distribution space.