All of the market indicators point to a tightening industrial real estate market in New Jersey, a reflection of the impact that the solid economy has on real estate dealmaking. Space is tight, prices are edging up and some spec building is cropping up, especially for the warehousing and distribution business. And the recent transactional activity reported by First Industrial Realty Trust is a mirror of what’s been going on in the Garden State.

Chicago-based First Industrial’s regional office in Livingston, NJ is reporting a total of more than 165,000 sf of recent deals, with regional director Hayden Tiger specifically citing the economy for the solid activity. “We believe in this marketplace,” he says and cites “tenant and broker relationships” as key to remaining upright in a highly competitive playing field.

The largest of the recent leases was the 40,000 sf taken by Dunphey & Associates in two facilities in Whippany; the tenant is a steel goods fabricator. And Revent Inc., a maker of ovens and stoves, has signed for 30,000 sf at three adjoining buildings in Franklin Twp. (The Garibaldi Group repped the tenant).

Also, opted for 25,000 sf in Piscataway; the Internet medical equipment company was represented by Bussel Realty. Next, Colgate Palmolive signed for 15,000 sf in Franklin Twp., with CB Richard Ellis standing for the tenant. And McNeil Inc., a pharma company, took 13,562 sf in Hamilton Twp., near Trenton.

In the other recent leases, Comstock, Inc. (stock photography) signed for 11,000 sf in Mountainside (the tenant was repped by Alexander Summer; Leadman Electronic took 10,000 feet in Piscataway (New Jersey Equity and Resource Realty did the deal for the tenant; Lesco, Inc. (lawncare) signed for 8,000 sf in Hamilton Twp.; Holman Technologies expanded to 7,800 sf in South Gold Industrial Park in Hamilton Twp.; and Battery Zone (battery retailer) signed for 5,000 feet in Franklin Twp.

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