New Jersey’s industrial real estate market continues to surge, with upgraded facilities and major new construction projects driving fresh leasing momentum across the state. Recent transactions facilitated by multiple brokerage firms signal sustained demand from logistics, fulfillment, and supply chain companies eager to secure space near key transportation corridors.
Cushman & Wakefield announced three major lease agreements totaling 878,500 square feet at Central 9 Industrial Park in Old Bridge — a multi-phase development set to deliver 4.2 million square feet of modern logistics infrastructure.
Developed by 2020 Acquisitions through a public-private partnership with the Township of Old Bridge, the site previously earned NAIOP New Jersey’s Industrial Project of the Year award in 2024.
The brokerage’s leasing team — led by Mindy Lissner and Bill Waxman along with logistics specialists and senior directors — represented the developer in all three transactions:
Upon buildout, the property will include nine buildings. Phase II begins in November and will deliver an additional 1.6 million square feet by fall 2026.
“In a State where vacant land is a commodity, the scale of this project can offer current and future tenants the ability to grow their business and establish a logistics footprint that can grow with them,” said Lissner.
2020 Acquisitions CEO Efrem Gerszberg noted that interest has accelerated rapidly:
“The feedback from our tenants has been that Central 9 is unique in that it sits on a major highway near the Port of Elizabeth, has little labor competition with an untapped local labor force, and a long-term Tax Pilot. Our long-term, below-market real estate taxes have been a huge advantage, as tenants are expressing their concern of increased property taxes across Central New Jersey.”
Edison
Lee & Associates – WBE confirmed a full-building lease of 50,000 sq. ft. to Cangso Global Inc. at 240 Mill Road — marking a strategic expansion of its East Coast e-commerce distribution network.
The space offers proximity to Interstates 95 and 287 and key logistics features including:
Director Jianning Meng emphasized the value of recent improvements:
“The team completed major property improvements — including office renovations, LED lighting and sprinkler upgrades, and parking lot repaving.”
Dayton
Bussel Realty Corp. leased a 42,000 sq. ft. building at 5 Wheeling Road to Core & Main LP, a major waterworks distributor. The property, located near Turnpike Exit 8A, includes versatile dock and trailer parking capabilities.
BRC Senior Vice President Stephen Nozza — who manages leasing for the owner statewide — highlighted the limited availability of similar standalone industrial sites:
“There is a shortage of these type of stand-along industrial properties which can accommodate various uses that are not possible in multi-tenanted warehouse currently available.”
New Jersey remains one of the country’s most competitive industrial hubs thanks to:
1. Port access — especially the Port of Elizabeth
2. Strategic highway connectivity
3. Expanding e-commerce and AI-enabled fulfillment
4. Strong developer investment in state-of-the-art upgrades
As older properties undergo modernization and large-scale projects like Central 9 move ahead, the region is maintaining the industrial strength that pushed vacancy rates to record lows in recent years.
Originally reported by Jessica Perry in NJ - BIZ.
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