Newswire Mann Report

Newmark Closes Largest Industrial Transaction in NJ

The Fairfalls Portfolio (Photos courtesy of Newmark)

Newmark announced that it closed the largest industrial transaction in Northern New Jersey in 2024 via the $300 million recapitalization of Fairfells Logistics Portfolio. Newmark’s Executive Managing Director Kevin Welsh, Managing Director Brian Schulz and Global Head of Industrial and Logistics Jack Fracker strategically advised The Hampshire Companies on the deal and procured the joint venture equity partner.

The Fairfalls Portfolio, totaling 1.35 million square feet of light industrial space, consists of 30 strategically located buildings with an average building size of approximately 45,000 square feet, spanning Fairfield, Little Falls, Elmwood Park and Carteret, N.J. The portfolio, which is currently 92% leased, provides critical mass and operational efficiency within the regional port-centric market, offering unparalleled accessibility to major Northeast corridors and a broad user base. Most of the portfolio is concentrated in Fairfield, providing direct access to critical highways such as Interstate 80 and Route 46.

With the closing of this transaction, the firm’s Industrial Capital Markets group based in New Jersey successfully closed a combined $1.1 billion in total transaction volume in 2024.

“We are excited about the strong momentum and significant transactions the Team has executed over the last year and building upon the partnership with our clients and industrial capital markets collaborators in the Northeast,” said Welsh. “Our track record reflects the strength of our market position, and we’re looking forward to reaching even greater milestones in the year ahead.”

Northern New Jersey remains a prime location for industrial real estate, benefiting from a deep and dense labor pool, excellent regional highway infrastructure and status as a gateway to the largest metropolitan population base in the country and the ports of New York and New Jersey, the second-largest port complex in the U.S. in terms of annual TEU volume, the company said. The region has attracted substantial investment and interest from domestic and international investors.