Prologis to transform Burlington County office property into logistics site
A Burlington County office property will be developed into a 184K-square-foot logistics facility following its sale to Prologis.
Source: njbiz.com
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Top News In Russo Development Today - Breaking & Trending Today
Avison Young: Q4 industrial vacancy rate hits 20-year low in 2021
Avison Young's Q4 New Jersey Industrial Insights Report shows demand remains high in the state, while supply is low.
Source: njbiz.com
JLL Capital Markets Group Arranges $80 Million in Permanent Financing for 296-Unit Vermella at Garwood Station in Garwood, New Jersey
MORRISTOWN, NJ - JLL Capital Markets announced today that it has arranged $80 million in pre-stabilized permanent financing for Vermella at Garwood Station, a newly built, 296-unit, transit-oriented, luxury apartment building located in Garwood, New Jersey. JLL worked on behalf of the borrower, Russo Development, LLC (“Russo”) to secure a 10-year, fixed-rate, non-recourse loan through a national life insurance company at a low-two percent coupon, including a nine-month forward...
Source: multifamilybiz.com
Recipe for success
With demand outpacing supply on the industrial side, older and vacant office properties are being repositioned to industrial.
Source: njbiz.com