J.G. Petrucci Co. Inc. has named CBRE as its leasing agent for more than 1 million square feet of new industrial space in Logan Township, the first piece of a planned four-building campus.
At SIOR event, developers urge brokers to broaden their horizons
As tenants adopt a more regional approach to industrial space, New Jersey brokers must do the same and expand their focus to the Lehigh Valley and other neighboring markets. Brokers now have an opportunity to provide their clients with additional options beyond the core submarkets of northern and central New Jersey, developers say, noting that many regional tenants have already grown comfortable with casting a wider net.
New Jersey industrial brokers, developers thinking regionally as tenants expand the market
With a limited supply and an increasingly savvy approach to logistics, tenants are pushing the historical boundaries of the New Jersey industrial market and expanding not only westward, but to the southernmost parts of the state and to the east to New York City. As occupiers explore these new frontiers, developers and brokers in New Jersey are following suit with a more regional approach to the warehouse and distribution sector.