PARSIPPANY, NJ— E-commerce driven activity led to 18.6 million square feet of industrial leasing in New Jersey in the first quarter, breaking the 12 million-square foot record set during the fourth quarter of 2015, according to David Simon of Colliers International Group.
BETHLEHEM, PA—Synchronoss Technologies, a company that provides personal cloud solutions and software-based activation for connected devices, is extending its lease at 1555 Spillman Drive in Lehigh Valley Industrial Park VII, in Bethlehem, PA, owned by J.G. Petrucci Company.
HACKENSACK, NJ—A 45,912-square-foot medical office building at 155 Polifly Road in Hackensack, NJ, which houses some offices of Hackensack University Medical Center, has been sold.
WARMINSTER, PA—LRS is acquiring 955 Mearns Road in Warminster, PA, a 303,000 square-foot facility with flexible space including office, warehouse, and light fabrication users, from MIM-Hayden Mearns for just over $16 million.
TRENTON, NJ—The New Jersey Economic Development Authority is dangling some juicy Grow NJ carrots to try to get a couple of companies to commit to bringing jobs to the Bell Works redevelopment in Holmdel, NJ, but so far, the companies apparently haven't signed the leases needed to collect the credits.
ROSELAND, NJ—Following a multimillion-dollar capital improvement campaign, Soma Capital's 5 Becker Farm Road is seeing a major uptick in leasing activity.
RUTHERFORD, NJ—David Ruggiero, a 20-year industry veteran, has been named managing director of the Global Healthcare Services (GHS) team in Newmark Grubb Knight Frank's Rutherford, NJ, office.
PHILADELPHIA—Cornerstone Real Estate Advisers sold its Stone Manor Corporate Center, 2600 and 2700 Kelly Rd., Warrington, PA, to Pembroke Hobson for $19.75 million.
JERSEY CITY, NJ—Point Capital Development and Fields Construction Company have completed construction at The Baker Building, 234 Suydam Avenue, a new community of 83 apartments in the Lafayette neighborhood of Jersey City, NJ.
NEWTON, NJ—Marcus & Millichap has arranged the sale of Brookside Terrace, a 222-unit HUD property in Newton, NJ. The apartment complex consists of a 10-story high-rise building along with townhouses. Built in 1976 on 7.2 acres, the property is located at 33 Mill St. in Newton, one hour from Manhattan.
