The news of Amazon’s $13.7 billion acquisition of Whole Foods Market this summer came with a bit of irony: Many bricks-and-mortar supermarkets in New Jersey and elsewhere had offered online delivery for years, but Whole Foods wasn’t among them. But at the very least, the deal signaled to those other operators that Whole Foods is not to be taken lightly, especially with Amazon’s stated goal of lowering the chain’s notoriously high prices.
Several other cities in New Jersey have filed their bids to become the home of Amazon’s second headquarters, despite the state throwing its official support behind Newark earlier this week.
As the state prepares to submit its official bid later this week, Gov. Chris Christie has declared Newark “the clear winner” of the competition among several New Jersey municipalities that have expressed hopes of landing the coveted Amazon HQ2 project.
By many accounts, rent growth in New Jersey’s industrial sector continues to be unprecedented. Research from multiple real estate service firms shows that average rental rates across the market hit several milestones this summer.
The Exit 8A submarket continues to thrive in the state’s industrial sector, according to JLL, accounting for more than half of the leasing activity in northern and central New Jersey during the second quarter.
Amazon has formally unveiled plans for three new fulfillment centers in New Jersey, adding to what is already a sprawling footprint across the state’s industrial real estate market.