Demand for parking in and around industrial properties has soared in New Jersey, fueled largely by the use of large delivery fleets, spurring changes in building design and creating new revenue streams for industrial owners.
This year’s shortened holiday shopping season has placed added pressure on retailers and their shipping partners, prompting new in-store solutions for delivery and returns and the need to hire additional seasonal workers for distribution and fulfillment.
CenterPoint Properties has acquired a three-year-old, 315,389-square-foot industrial building in Jersey City, the latest addition to its fast-growing New Jersey portfolio.
The Stro Cos. has added to its string of recent industrial deals, acquiring a 35,000-square-foot FedEx facility in Union County.
Big box leases continued to drive New Jersey’s industrial market to start the year, keeping a lid on vacancy as speculative construction carries on throughout the region.
Two Elizabeth-based developers have partnered once again, this time acquiring a Branchburg industrial building that serves as a FedEx distribution center.