The developers of some 584,000 square feet of new cold storage and industrial space in East Hanover have secured a $135 million construction loan, brokers with Newmark said Tuesday.
The data center landscape in the U.S., particularly in New Jersey, is experiencing significant growth driven by the evolution of technologies such as artificial intelligence and cloud computing. Yet there is still a good deal of uncertainty around how to meet this growing need.
Commercial real estate and business leaders have a launched new coalition to promote the benefits of New Jersey’s logistics sector and defend against rhetoric that has stalled a growing number of warehouse development projects in recent years.
Construction is set to begin for a new 380,000-square-foot cold storage facility in East Hanover, in a project that’s bringing new life to a piece of the iconic Novartis Corp. campus on Route 10.
Russo Development has opened the doors to a new year-round art gallery at the base of Vermella Broad Street, a 296-unit luxury apartment property that opened earlier this year.
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.
Commercial real estate clients have been critical to Splendor’s growth as a full-service creative agency, as have the firm’s own decisions about locating and growing its business in Red Bank.
The Urban Land Institute’s UrbanPlan program is growing in New Jersey with its recent expansion to a second school district and a project tour led by Russo Development, creating new opportunities for students to participate in hands-on, simulated real estate planning.
The developers of the high-profile Print House project in Hackensack have completed its second phase, bringing another 425 luxury apartments to the city’s largest new residential property.
Russo Development marked the opening of nearly 300 new apartments at the north end of downtown Newark, having already leased 70 percent of a project that has brought life to a long-vacant site near NJ Transit’s Newark Broad Street station.
