Many of the state’s top commercial brokers gathered recently for an annual event hosted by the Society of Industrial and Office Realtors, where the organization recognized some of the Garden State’s top deals of 2017.
Industrial
Owning or leasing industrial space in New Jersey means you’re within one day’s drive of one-third of the nation’s population. That means the state continues to be a hotbed of warehouse and logistics activity.
Big box space conundrum
At mid-2Q 2018 only three Class A industrial buildings larger than 500,000 square feet were available for lease throughout New Jersey. The shortage of space caused leasing to slow down at the start of the year without any big-box leases signed in first five months of 2018. On a positive note, five buildings greater than 500,000 square feet are set to break ground in 2018.
May our chain be unbroken
Supply or cargo chains are complex ecosystems involving multiple organizations, infrastructure modes, carriers and workers that comprise the movement of commodities from their point of origin (factory, farm, mine, etc.) to the retailer and consumer. They include beneficial cargo owners (BCOs), ocean carriers, port authorities, regulatory agencies, marine terminal operators, port labor, rail and motor carriers, warehouse, distribution, fulfillment and e-commerce centers and retail businesses. A problem at any link in this chain can cause the entire system to back up.
