A massive distribution center in Cranbury that was long home to Pearson Education is finding new life after a lease by LVMH Group, the owner of brands such as Louis Vuitton and Tiffany.
Adaptation
The glory days of near-zero vacancy and hard-to-fathom rent growth in the industrial market always came with the slightest bit of tension, especially among veteran landlords who know full well that nothing lasts forever. And with good reason, as we now know, as the asset class grapples with new headwinds that may not have seemed likely only two years ago.
