Bridge Development Partners has lured a second tenant to its new logistics park in Warren County, inking a nearly 420,000-square-foot lease with a well-known beverage company.
Industrial developers and companies seeking logistics space are unlikely to face lasting damage from the coronavirus pandemic, experts say, but the market is still poised for major changes amid disruptions to supply chains and consumer spending habits.
With modern logistics space still in short supply across the country, northern New Jersey will be among the top three markets this year to expand its stock of industrial buildings.
A new year is upon us, bringing new opportunities and new uncertainty for New Jersey’s commercial real estate market. To make sense of it all, we recruited some of the industry’s most influential professionals, developers and thought leaders to share their predictions for the year ahead. You can find those insights and more in our special 2020 Market Forecast.
The March of Dimes has picked veteran developer Jeff Milanaik as the latest honoree for its annual northern New Jersey real estate awards reception.
Bridge Development Partners has landed a major tenant at a six-building, 3.85 million-square-foot industrial park now under construction in Warren County, inking its largest lease to date with the Japanese clothing maker Uniqlo.
Bridge Development Partners has expanded its New Jersey and New York team with the hiring of a new director of operations for the Northeast.
Users in New Jersey’s booming industrial sector have faced a severe lack of supply in recent years, leading to unprecedented rent growth and an unabated race to find development sites. New space is on the way — and plenty of it — with millions of square feet slated to come online in the next two years. Yet market experts say demand will continue to outpace supply, given the continued upside of e-commerce and a race by traditional retailers to update their supply chains.
Landlords and developers are still reaping the rewards of New Jersey’s tight industrial market, where rents continue to rise well above average asking rates.