Industrial

The developer plans to redevelop the existing manufacturing and distribution center on the site.

The transaction serves as the firm's largest real estate portfolio acquisition to date.

The new campus will be a $1 billion 3-million-square-foot site that is to house an initial 5,000 employees when it opens in 2022, later growing to 15,000.

New industrial development, both speculative and built-to-suit product, is at its highest levels since 2007.

The buyer is an e-commerce company that produces customized apparel and other merchandise.

Fiumara's promotion marks just the third time that a CBRE sales professional in the greater Philadelphia region and New Jersey region has achieved the vice chairman status.

The NJ TRANSIT office of real estate, economic development and transit-oriented development will assess and develop recommendations for transit-oriented development opportunities for parcels of property in which NJ TRANSIT holds an interest in, with the goal of increasing NJ TRANSIT's non-farebox revenue.

Investments in Orange, Seminole, Lake, Osceola and Volusia counties will be given first priority; though other investments across Florida could also be considered.