An investment firm has acquired a 100,000-square-foot industrial building in Fairfield as part of a sale-leaseback agreement with a manufacturer at the property.
New construction in 2020, 2021 unlikely to quench demand for New Jersey industrial stock
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.
Freezer, cooler space in high demand in New Jersey, as users face a lack of supply
Demand for cold storage warehouse space nationwide, and particularly in the Garden State, is on fire, largely because of rising online fresh grocery sales and changing consumer preferences for fresher foods. Meeting that demand could prove challenging — given the cost and complexity of such projects and the need for specialization — but some developers are positioning themselves to be ready when users come calling.
