Industrial

The transaction expands Prologis' position in key markets across the US.

The Inland Empire is helping to drive the economic growth in the state as other markets suffer from housing affordability issues.

While capital likes multifamily and industrial, most CRE sectors, even retail, have a positive story.

NAI James E. Hanson, the exclusive leasing broker for the former Ballantine Brewery located in the Ironbound district in Newark, reports that it negotiated industrial leases for 16,504 square feet with L. Gambert, LLC, 11,000 square feet with Windsor, and 9,000 square feet with Eli Fashion.

Avison Young was able to secure an early renewal and extension lease at 330 Washington Ave. allowing VGS to stay in the saturated Carlstadt/Rutherford submarket, while also negotiating other terms including a tenant improvement package.

The new hires will be led by Newmark Knight Frank senior managing director and NKF V&A market leader for Illinois, Kansas and Missouri, John Mackris, MAI, MRICS, CCIM.