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.
A well-known furniture brand is set to open later this month at a new shopping center in Union, the first of two national tenants that will anchor the 110,000-square-foot project on Route 22.
The Stro Cos. has started the year by growing its industrial portfolio in northern and central New Jersey, acquiring five buildings spanning more than 200,000 square feet.
Several of New Jersey’s largest, most prominent life sciences complexes are now on the path toward redevelopment, with new anchor tenants in place or new owners that can reclaim the value of what was left behind.
In the most high-profile cases, a team at JLL has been right in the thick of it.
Brokers with Colliers International have leased more than 50,000 square feet at a Union office building, less than a year after taking over marketing for the repositioned complex.
The owner of a Union office building is refinancing the property for $11 million after recently completing a series of renovations, brokerage firm HFF said Thursday.
Bridge Development Partners LLC has sold its newly developed industrial building in Union for $46.5 million, reaping the success of its first project in New Jersey after entering the market in 2014.
