Out with retail, in with industrial

From Real Estate Weekly:

Developers struggling to meet demand for New Jersey industrial space

New Jersey can’t keep up with demand for industrial space, according to Duke Realty leasing vice president Ben Rosen.

“There are no buildings available under 300,000 square feet in northern New Jersey—and the demand for industrial space is strong and consistent,” said Rosen “The trend driving the industrial market is the supply side and the industry can’t keep up — it takes too long to develop and there is not enough land.”

Panelists agreed the industrial sector will remain strong for the foreseeable future with the continued strength of e-commerce and the move away from brick and mortar retail stores.

Jeff Milanaik, principal, Bridge Development Partners,noted that “the capital markets appetite for industrial is phenomenal — there is an uptick of activity in the ports and the inherent need for warehouse space.”

Regarding the office market, John Saraceno, Jr., Managing Principal, Onyx Equities, noted that there is a carnage of commercial office space, “and location, location, location is more important now more than ever. We are seeing the same process over and over of people tired of occupying 30 to 40-year-old office buildings.”

There is not a lot of quality office space on the market and there are a lot of people fighting for the same space. He also noted that the parking density trend is not going away, as we see more tenants wanting more parking.

All in all, panelists remain optimistic about the state of New Jersey’s commercial real estate market over the next couple years with some of the driving factors including the repurposing of retail centers for industrial use; increased activity at the ports; redeveloping and upgrading office buildings to include amenity packages geared towards millennials and new technology; and federal tax reform.

This entry was posted in Demographics, Economics, New Development, New Jersey Real Estate. Bookmark the permalink.

28 Responses to Out with retail, in with industrial

  1. grim says:

    This trend has caught most NJ municipalities by surprise, as they’ve been hell bent on eliminating industrial properties as fast as possible, replacing them with commercial and retail whenever possible.


  2. The Great Pumpkin says:

    Guess businesses aren’t fleeing nj. Does this mean nj isn’t dying?

  3. Hold my beer says:

    What is being made in N.J. industrial properties?

  4. The Great Pumpkin says:

    Unreal. These bears just want it to go down so that they can be right for once.

    “It’s not that companies aren’t beating estimates. Most are, by the widest margins in years. It’s that the market has been slow to reward them — and quick to punish those that fall short.”


  5. The Great Pumpkin says:

    Connect the dots.

    “Bishop Jethro James Jr. of Newark’s Paradise Baptist Church said the pot shops will be in urban areas as suburban communities ban them.”


  6. Yo! says:


    New Jersey’s warehouse market is the hottest on the planet according to the world’s biggest industrial landlord.

  7. Very Stable Genius says:

    every single freaking year! enough already

    right wingers and their cult of personality.

    you guys lack heroes and must obsess about Sci-Fi, third-tier writers. Sad!

    Blue Ribbon Teacher says:
    April 20, 2018 at 9:32 pm
    We’ve spent an awful lot of time talking about Ayn Rand on this board lately.

    Fabius Maximus says:
    April 20, 2018 at 8:10 pm
    “I love the way that Ayn Rand rebuttal of the leftist worldview has inspired a cottage industry generating ad hominem attacks against her ”

    I always find it funny that the Rand heads always claim Ad Hominem when someone brings up the fact she was a classic Moocher. At least William Mooch had a real job running the Planning board. The ultimate irony is that her life is a perfect juxtaposition for her books. She would never had made it to the Gulch.

    She was a Welfare Queen, own it and stop trying to deflect it.

  8. Very Stable Genius says:


    The fact that Sean Hannity has been railing against the FBI’s investigation of Michael Cohen without disclosing that Michael Cohen IS HIS LAWYER is wildly unethical, and also perfectly on-brand for a Fox News host

  9. Very Stable Genius says:

    for Gary’s book club


    My book is about ethical leadership & draws on stories from my life & lessons I learned from others. 3 presidents are in my book: 2 help illustrate the values at the heart of ethical leadership; 1 serves as a counterpoint. I hope folks read the whole thing and find it useful.

  10. Fast Eddie says:

    Comey is a drama queen, most a likely a closet queen as well. Ayn Rand is Sci-Fi? If so, then the liberal ideology is a horror movie.

  11. Fast Eddie says:

    Q: What is it called when a Liberal blows in another Liberals ear?
    A: Data transfer.

  12. joyce says:

    I bet if you stopped copying and pasting tweets… No One / Gary would agree to not post Ayn Rand material. Deal?

    Very Stable Genius says:
    April 21, 2018 at 10:44 am
    every single freaking year! enough already

  13. nwnj says:

    Congrats to Jim “deep state” Comey for becoming the most hated man in America. What a sanctimonious d0uchebag. His book should be in the satire category.a

  14. The Original NJ ExPat says:

    Yeah, we’re jealous of Hillary and her cankles of steel.

    you guys lack heroes

  15. The Original NJ ExPat says:

    Hannity never paid Cohen a dime.

    The fact that Sean Hannity has been railing against the FBI’s investigation of Michael Cohen without disclosing that Michael Cohen IS HIS LAWYER is wildly unethical, and also perfectly on-brand for a Fox News host

  16. Fabius Maximus says:

    Gary would agree to not post Ayn Rand material. Deal?

    He11 No. I waiting for Garys synopsis. This is going to be fun. It reminds me of the Hitchhikers Guide to the Galaxy. Gary reading AS, will be like watching someone listening to Vogon Poetry.

    I’ll buy him a beer (or one of those Frou Frou drinks at Grims) if he makes it past 100 Pages.

    “Vogon poetry is, of course, the third worst in the universe. The second worst is that of the Azgoths of Kria. During a recitation by their poet master Grunthos the Flatulent of his poem “Ode to a Small Lump of Green Putty I Found in My Armpit One Midsummer Morning”, four of the audience members died of internal hemorrhaging and the president of the Mid-Galactic Arts Nobbling Council survived only by gnawing one of his own legs off. Grunthos was reported to have been “disappointed” by the poem’s reception, and was about to embark on a reading of his 12-book epic entitled “My Favourite Bathtime Gurgles” when his own large intestine – in a desperate attempt to save life itself – leapt straight up through his neck and throttled his brain. The very worst poetry of all perished along with its creator, Paula Nancy Millstone Jennings of Sussex, in the destruction of the planet Earth. Vogon poetry is mild by comparison.”

  17. Fabius Maximus says:

    “the most hated man in America. ”

    I think Donnie has that pretty much sewn up. The Right have too much hatred and too many to throw it towards to make Comey anywhere near El Duce!

  18. Fabius Maximus says:

    “Hannity never paid Cohen a dime.”

    I let the lawyers on the board comment on the exact definition. But think on this, it wasn’t an allegation against Hannity by a third party. This was Cohen claiming him as a client. Given that he seems to have gone to law school with Lionel Hutz, Cohen actually got the law right on this point. I suppose a blind squirrel can find a nut.


  19. 3b says:

    Fab I find the left just as hateful and contemptuous of any one who does not agree with them.

  20. Californicator says:

    You guys are retawwwded.

  21. leftwing says:

    “He11 No. I waiting for Garys synopsis. This is going to be fun. It reminds me of the Hitchhikers Guide to the Galaxy. Gary reading AS, will be like watching someone listening to Vogon Poetry.”

    Hey, piggybacking on my H2G2 reference to the metro suburbs being an experiment by hyper-intelligent white mice gone awry?

  22. leftwing says:

    Oh, and btw, 42.

  23. Fabius Maximus says:


    I don’t understand that statement.

    First off what do you mean by “the Left” Democratic Soc1alists of America”? A group I never knew existed until Eddie Ray accused me of being a member. Or do you just hate the Democratic party?

    For me the Right, the Naz1s, the K1an, the Birch and all the other wackadoodles don’t equal the GOP. I can’t stand the GOP but thats based on their platform.

    So if your want to debate platforms, let’s go.

  24. 3b says:

    Fab My comment was in general. You seem to justify or rationalize shortcomings or mistakes by the so called left while vilifying the so called right. As for debating platforms none of our two pathetic parties have had a real platform in a generation or more.

  25. Fabius Maximus says:


    If your comment was in general, then I don’t need to define a “so called right” as an opposite to your “so called left”? That’s because there is none.

    Step away from the “so called Left” term and just discuss the issues. You don’t need a political label for a discussion to happen.

  26. Fabius Maximus says:


    Would you deny that AS and Vogon Poetry is a fair comparison? Both very painful to read and to try to comprehend.

  27. 3b says:

    What issues would you like to discuss?

Comments are closed.