Lincoln Equities Group has sold a massive development tract in Bayonne that will soon be home to a nearly 900,000-square-foot regional hub and distribution center for UPS.
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.
Lincoln Equities Group has completed its demolition of two historic, bomb-proof buildings in Bayonne, paving the way for the construction of a massive new distribution center for UPS.
A new UPS distribution center is coming to Lincoln Equities Group’s sprawling new industrial park in Bayonne, where officials say the carrier would lease nearly 900,000 square feet.
Denholtz Properties has acquired a 26,000-square-foot industrial building in Bridgewater, adding to its footprint in a large commercial complex along Route 22.
This year’s shortened holiday shopping season has placed added pressure on retailers and their shipping partners, prompting new in-store solutions for delivery and returns and the need to hire additional seasonal workers for distribution and fulfillment.
As tenants adopt a more regional approach to industrial space, New Jersey brokers must do the same and expand their focus to the Lehigh Valley and other neighboring markets. Brokers now have an opportunity to provide their clients with additional options beyond the core submarkets of northern and central New Jersey, developers say, noting that many regional tenants have already grown comfortable with casting a wider net.
Onyx Equities is planning everything from an expansive dining area to a game room to a gym that will rival a high-end fitness club — all part of a project at 340 Mount Kemble Ave. in Morristown. They will be part of a long list of amenities at the 400,000-square-foot complex, which the firm acquired in 2016 and plans to reposition for new tenants.