18 — June 2026 — Northern New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N orthern N ew J ersey
Infill strategy drives early leasing momentum RRNNJ closes 164,193 s/f in Q1 leases across Northern NJ
Totaling three buildings in Elmwood Park STRO and The KRE Group acquire 120,000 s/f ind. portfolio
ARSIPPANY, NJ — Resource Realty of Northern New Jer- sey (RRNNJ) reports a pro- ductive start to 2026 across Northern New Jersey. In Q1, the firm’s market specialists finalized 164,193 s/f in leas - ing transactions through a number of prominent owner’s representation assignments. The firm’s early-year mo- mentum is rooted in a strategic focus on “infill and accessibility,” a market pillar emphasizing the critical value of last-mile logistics and well-positioned flex-industrial assets in a tight - ening New Jersey industrial and flex-space landscape. RRNNJ’s Q1 volume was an- chored by several key transac- tions across Warren and Morris counties, showcasing the firm’s ability to stabilize assets for landlords while meeting the specific operational needs of modern tenants. Among the most notable transactions was a 38,258 s/f flex industrial lease at 400 American Rd. in Morris Plains, where principals Tom Consiglio and Scott Peck represented the landlord. Char- mant USA has been a tenant at the property since 1990, underscoring the strength of the long-term relationship fos- tered by ownership, GTJ REIT, and its management team. The longevity of the tenancy reflects GTJ REIT’s ability to support evolving tenant needs and fa- cility requirements over more than 35 years. According to Consiglio, deal volume in the 20,000 to 40,000 s/f range remains a bellwether for the local economy. “The demand for infill space is no longer just about storage; it’s about the ‘physics’ of the sup- ply chain,” he said. “Accessibil- ity is the primary currency for our clients right now.” This sentiment was also reinforced by the execution of a 23,101 s/f industrial lease at 19 Chapin Rd. in Pine Brook. Completed by the RRNNJ team of Consiglio, Peck and principal Greg Sabato on behalf of the landlord, the deal highlights how specialized industrial assets continue to perform well despite broader economic shifts. In the short period of time the space was available, RRNNJ received multiple offers from companies seeking to lease the property, further illustrating the contin- ued demand for smaller infill industrial spaces throughout P
5 and 30 Paul Kohner Place in Elmwood Park
fits squarely within our invest - ment thesis, functional, infill industrial assets in supply- constrained submarkets where we can create meaningful val- ue through repositioning and capital investment,” said Eli Millstein of The STRO Cos. “Bergen County remains one of the tightest industrial markets in the country, and the com- bination of as-of-right outdoor storage, existing warehouse infrastructure and substantial power made this an opportunity we moved quickly to secure. We’re excited to partner with KRE to unlock the full potential of this site.” “Our partnership with STRO continues to deliver high-quality industrial assets in markets where we have strong conviction,” said Jona- than Kushner , president of The KRE Group. “The acquisi- tion reflects our shared focus on well-located, functional properties with clear paths to long-term value creation.” Financing for the acquisi- tion was provided by IDB Bank . MAREJ
ELMWOOD PARK, NJ — The STRO Cos. and The KRE Group have expanded their industrial footprint through the acquisition of 5 and 30 Paul Kohner Place in Elmwood Park, a three-building portfolio totaling 120,000 s/f on 7.4 acres at the intersection of I-80 and the Garden State Parkway in hyper-infill Bergen County, New Jersey. The partnership plans to complete its STRO “GRADE” capital improvement plan, repositioning 30 Paul Kohner Place into a class A indus - trial outdoor storage facility featuring 20,000 s/f of ware- house space with 20-foot clear heights, two docks, two drive-in doors, and 3,000 amps of power on 4.5 acres of low-coverage land. The site is ideally suited for contractors, fleet operators, building material suppliers, and heavy equipment compa- nies. The property’s IG zoning permits outside storage as a primary use, providing signifi - cant operational flexibility for prospective occupiers. “5 & 30 Paul Kohner Place
19 Chapin Rd. in Pine Brook
101 Clinton Ave. in Fairfield
Northern NJ. “We are seeing a flight to qual - ity in the infill sector,” observed Sabato, a 28-year commercial real estate broker veteran. “Companies are prioritizing locations like Pine Brook and Morris Plains because they offer the dual benefit of a skilled labor pool and unri- valed logistical connectivity.” As vacancy rates fluctuate across the Garden State, the firm is also seeing the industrial footprint expand into secondary markets where accessibility re- mains high but costs are more manageable. This was evidenced by an 18,125 s/f industrial lease expansion at 103 Bilby Rd. in Hackettstown, where principal Brian Wilson represented the landlord in a transaction that ex- panded the neighboring tenant’s footprint to a total of 41,528 s/f. In a related transaction, Wilson also represented Ro- tarex in its relocation from 103 Bilby Rd. to 4 Middlebury Blvd. in Randolph. The firm’s Q1 activity reflects a broader trend of consistent deal flow in the Northern NJ market as users prioritize functional, well-located space. That momentum extended to Fairfield, where RRNNJ brokered two industrial leases totaling 20,456 s/f at 101 Clin- ton Ave., bringing the asset to full occupancy. Greg Sabato and sales as- sociate Rylie Lake brokered the transactions on behalf of SNS Real Estate Invest- ment Group , representing the landlord in both deals and
the tenant in one of them. “Fairfield continues to be an incredibly attractive destina- tion for industrial users because it pairs exceptional geographic access with versatile building designs,” said Sabato. “The swift execution of these two 10,228 s/f leases demonstrates that well-maintained facilities like 101 Clinton Ave. align perfectly with what modern tenants require.” In the first of the two leases, the RRNNJ team – working in cooperation with Newmark – represented the landlord to secure Debbie’s Floral Designs Inc., a regional floral supplier expanding its storage and distribution capacity. In the second transac- tion, completed within one month of the first, Sabato and Lake were part of a dual representation of the land- lord and the tenant, An Da Construction , a specialized commercial supplier requir- ing an integrated office and warehouse footprint. Both tenants selected 101 Clinton Ave. due to its optimal facility configuration, high clear ceiling heights and im- mediate access to major North Jersey transport arteries. “In addition to stabilizing the asset on behalf of ownership, we welcome the opportunity to assist small-bay-industrial tenants in identifying spaces that can optimize their logis- tical networks and contribute toward greater efficiency and, ultimately, their bottom line,” added Lake. MAREJ
Advance Realty launches pre-leasing for rentals at Hoboken’s Willow House
HOBOKEN, NJ — Ad- vance Realty Investors announced the launch of pre-leasing at Willow House, a new luxury boutique rent- al building in Hoboken’s North End. Located at 1404 Willow Ave. at a high-visibility corner at 14th St., the eight-story building features 52 studio- to-three-bedroom residences and 6,000 s/f of ground floor retail which will be occupied by Starbucks and CorePower Yoga. Initial occupancy is ex- pected July 1st. “Willow House reflects our integrated approach to resi- dential development in Hobo- ken,” said Dan Cocoziello , principal and COO of Advance Realty Investors. “It brings together well-designed homes, a strong amenity package,
Willow House
and a location that connects residents to everything the city has to offer.” Willow House contributes to Advance Realty’s broader vision for the North End, a plan that will bring 1,500 new residences, along with retail, dining, open space, and cultural uses to the neighborhood. The building is situated on the prominent corner of 14th St. and Wil- low Ave. connecting Hobo- ken to Jersey City Heights and Union City. MAREJ
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