Industrial

Demand for distribution and logistics space continues in southern New Jersey's rapidly growing industrial market.

The Inland Empire has added 41,300 transportation and warehousing jobs since 2013, increasing employment in the industry by 48.6%.

The New York City-headquartered firm says the distribution center is triple-net leased to Sonae MC, Portugal's leading food retailer.

The growing importance of distribution and logistics means new models are needed.

Watch an exclusive video tour of the first phase of Philadelphia's Rail Park with correspondent Steve Lubetkin.

GlobeSt.com <b>EXCLUSIVELY</b> learns that Ferguson Enterprises purchased a 1.04-million-square-foot building at Optimus Logistics Center and 4F Capital purchased an 81,286-square-foot building at Tri-City Industrial Complex.

The planned construction will expand the property by adding 122,000 square feet of class A, 32-foot clear, distribution space, bringing the total square footage to 235,000 square feet.

The property sold for $10.95 million at a 6% capitalization rate.