The pandemic has not stifled rent growth in New Jersey’s industrial market, as Amazon and other e-commerce users continue to drive leasing and construction activity statewide.
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.
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.
The unrelenting demand for industrial space has fueled new construction across the country — and New Jersey is home to what will be the largest project of the year.
A lack of new supply in New Jersey’s industrial market led to a year-end slowdown in leasing — despite high demand — setting up another year of robust activity for newly built warehouse and logistics space.