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Logistics

Advance Realty, Greek Development land $227M in financing from Wells Fargo for N.J. industrial pipeline

Linda Lindner | ROI-NJ

Greek Development, together with Advance Realty, on Tuesday announced their partnership closed on over $227 million in financing to support the continued development of Linden Logistics Center in Linden and Logan North Industrial Park in Logan Township. Greek and Advance secured two loans from Wells Fargo — a $142 million loan for Phase III of the 1.32 million-square-foot Linden Logistics Center, and an …

National Logistics Firm Comes to NJ

New Jersey Business Magazine | Press Release

Temco Logistics of Pomona, California, has leased 57,076 square feet of industrial space at 450 Murray Hill Parkway in East Rutherford, NAI James E. Hanson has announced. Temco Logistics is a premier provider of white-glove home goods delivery and installation solutions across the nation. With millions of home deliveries performed each year for some of America’s largest retailers, Temco Logistics …

CT Realty, PGIM to bring 1.7M-square-foot logistics center to Salem County

Jessica Perry | NJBiz

As demand for industrial space persists, a 1.7 million-square-foot logistics center will rise on a South Jersey site that can reach 66 million consumers within a day’s truck drive with delivery slated for the third quarter of 2023. CT Realty announced it acquired 282 acres of industrial land in Salem County’s Pennsville in a joint venture with PGIM Real Estate for the development …

Carteret to receive $6M from DOT to build passenger ferry terminal

Linda Lindner | ROI-NJ

Carteret will receive $6 million from the U.S. Department of Transportation to build a passenger ferry terminal as part of the city’s efforts to run a ferry from central New Jersey to Downtown Manhattan. “This is great news for New Jersey residents and tourists who commute to Downtown Manhattan. This funding will help improve efficient and reliable transportation options and help reduce …

How Devco does it: Inside $1.5 billion pipeline — and decades of high-profile New Jersey projects

Joshua Burd | Real Estate NJ

For an organization that seemingly thrives on complexity — from vast construction projects to its intricate capital stacks to managing public- and private-sector stakeholders — the success of New Brunswick Development Corp. has hinged on one rather simple objective. Chris Paladino can’t help but crack a smile at something that sounds so obvious or intuitive. “Helping public officials fulfill their …

Charged up: Expert sees push for electric vehicle charging stations at logistics centers — to support trucks and other delivery vehicles

Brett Johnson | ROI-NJ

While 2021 sets the stage for repaired roads and the refresh of other outmoded transportation infrastructure, there’s an energy component of the spending plan that might help the state prepare for the electric future officials expect for the vehicles traveling along them. The infrastructure recharge coincides with the administration’s goal of making a transition to electric vehicles over the next …

Newark port project named finalist, in contention for up to $100M in federal funding

Tom Bergeron | ROI-NJ

The proposed Greater Newark Smart Port Regional Growth Cluster is both a supply chain accelerator and job multiplier that will spur short- and long-term economic development throughout the region. It is also now one of 60 finalists in the $1 Billion Build Back Better Regional Challenge — meaning it is in contention to be awarded up to $100 million to be …

Choose New Jersey Announces Letter of Intent Signing Between the Port of Ashdod in Israel and NJCU

Choose New Jersey, Inc. | Press Release

(Newark, New Jersey) – During a fourth economic mission trip to Israel, Choose New Jersey announced that New Jersey City University (NJCU) and the Port of Ashdod in Israel signed a letter of intent (LOI) that will help strengthen the economic relationship between the State of New Jersey and Israel, as well as between the Port of Ashdod and the …

Peloton leads Q3 industrial deals with 840,000 sq. ft. lease in Linden, CBRE says

Joshua Burd | Real Estate NJ

Peloton Interactive has leased 840,000 square feet at a new logistics park in Linden, leading the way among tenants as the state’s industrial market continued to thrive in the third quarter. Those are among the findings of a new report by CBRE, which noted that consumer goods and third-party logistics companies dominated leasing activity in northern and central New Jersey …

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