Industrial rents in New Jersey and other top markets are rising at unprecedented rates, leaving investors hungrier than ever for properties across the asset class.
Improving economic conditions have led to an improvement in the NAIOP CRE Sentiment Index, indicating both overall optimism and several ongoing concerns. However, respondents are now more pessimistic about construction costs than in any prior survey, and most expect construction labor costs to increase.
A host of new technologies and other innovations are poised to transform the design and construction industry, experts say, but come with hurdles tied to adoption and integration.
In a year of headlines dominated by the pandemic, financial crisis, racial justice movement and climate change-induced natural disasters, a new report can help local, policymakers understand the challenges we must face and the emerging opportunities we cannot afford to squander.
While there has been some gradual improvement in commercial real estate deal activity from earlier this year, nearly half of those taking part in a recent NAIOP survey believe the pandemic will significantly affect their business operations for at least another 12 months.
The race to attract quality labor has led industrial developers and users to focus increasingly on wellness-oriented design and features, but that shift has become all the more important in recent months as occupiers look to keep employees safe from COVID-19.
Despite the ongoing adverse impacts from the COVID-19 pandemic, some experts report that the macroeconomic trends are looking favorable nationally, and especially for New Jersey, but it’s going to be pretty slow going. Marked differences exist among the various sectors, not all of which have bottomed out yet.
Industrial space remains a coveted asset class for investors, despite questions about short-term rent growth and other uncertainties in the wake of the coronavirus crisis.
More than 1,000 industry professionals have registered for this week’s I.CON event, NAIOP’s flagship conference for the industrial sector, despite its move this year to a virtual format. And with an industry that appears to be as bullish as ever, organizers believe they can still deliver the kind of experience and value that attendees have to come to expect from the annual gathering.