Ridgecut Road and Marcus Partners have acquired nearly four acres of low-coverage industrial property in South Plainfield, marking the firms’ second deal together in less than a year.
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.
An uneven recovery? NAIOP panelists see different paths for different asset types in 2024
The state’s industrial and office sectors both faced headwinds in 2023, but the year ahead for each asset class may be decidedly different. That was a key takeaway last week from panelists at NAIOP New Jersey’s Annual Meeting and Commercial Real Estate Outlook, who noted that demand for warehouse and logistics space has normalized after a record-breaking run during the pandemic. Office landlords, meantime, are still grappling with shrinking corporate footprints and remote work policies, further straining submarkets that are both aging and oversupplied.
