A structural steel fabricator with deep roots in Clifton just made a massive bet on Morris County, paying $30.9 million for a 165,380-square-foot industrial building in Randolph that sits on 17.6 acres. B&B Iron Works Inc. is the buyer behind the deal at 29 Reed St., a property positioned to carry the company's operations well beyond its longtime home base.
According to Real Estate NJ, the transaction was arranged by The Blau & Berg Co., and the deal is meant to support B&B Iron Works' expanding operations beyond its Clifton base. The report describes the single-story Randolph building as offering a substantial footprint and outdoor space well-suited for heavy industrial and fabrication uses, with room for operational growth, material handling and future needs.
Blau & Berg president Alessandro Conte said the acquisition marked the firm's third successful transaction alongside B&B Iron Works, and he noted that the steel fabricator is expanding its operations. Conte, along with colleagues Jason M. Crimmins and Peter J. Murano Jr., represented B&B Iron Works in the acquisition, the outlet's report states.
A Four-Decade Run From Hoboken to Clifton
B&B Iron Works has been building toward this kind of scale for decades. The company was incorporated in 1982 by Mauro Belgiovine in Hoboken, New Jersey, according to B&B Iron Works' own company history, before relocating in late 2014 to its current 70,000-square-foot facility in Clifton.
That Clifton plant has served as the company's operational hub, outfitted with automated CNC equipment including multiple beam lines, a plasma plate processor and a cambering machine, per the company's site. The facility also houses multiple overhead cranes with a total lifting capacity of 100 tons, though B&B's own pages give conflicting counts of the equipment — one company page cites 11 overhead cranes with a maximum single-lift capacity of 35 tons, while another lists ten cranes with the same 100-ton combined and 35-ton single-lift capacities.
The company has built a client base spanning commercial, institutional, educational and government work across the Northeast, Real Estate NJ reports, a footprint that helps explain why a single Clifton facility eventually needed company.
Industrial Demand Still Running Hot in Morris County
The Randolph purchase lands amid a broader appetite for industrial buildings that can handle manufacturing-grade needs across northern New Jersey. In a separate Morris County transaction, Resource Realty of Northern New Jersey arranged the sale of a 53,252-square-foot standalone industrial building at 36 Pine St. in Rockaway, purchased by Commerce Park Investors, according to WRNJ Radio. That building includes two exterior tailboard dock doors, one drive-in bay and a 2,500-amp, 440-volt electrical system, and sits near Interstate 80 with access to Interstate 287, U.S. Route 46 and Route 10.
A Resource Realty representative pointed to sustained demand for spaces that can immediately accommodate a full range of manufacturing and technical requirements, the station reported — a dynamic that mirrors what's driving buyers like B&B Iron Works toward bigger, purpose-built facilities.
A Market Still Tightening Despite a Slower Pipeline
Statewide numbers back up that demand. New Jersey's industrial development pipeline totaled 11.8 million square feet in the third quarter of 2026, down from 12.6 million square feet in the second quarter, according to Avison Young. That figure remains 1 million square feet above its year-ago level but well below the 18.8 million square feet recorded in the third quarter of 2023.
Average net, net, net industrial asking rents across the state held steady at $15.39 per square foot in the third quarter, Avison Young's data shows, while total industrial vacancy slipped to around 8.0% from 8.3% earlier in the year. Leasing activity through the third quarter was concentrated in transactions below 250,000 square feet, with deals in the 100,000-to-249,000-square-foot range leading the way — a bracket that closely matches the scale of B&B Iron Works' new Randolph building.
