Industrial Market in Northern & Central New Jersey Booming– The industrial real estate market of northern and central New Jersey was the topic of a presentation by guest speaker Scott Perkins, corporate director at NAI James E. Hanson. The growth of the eCommerce segment of the market over the last 3-4 years has spurred the design and development of warehouse space (both new and refurbished) to accommodate the increasing demand for higher and larger warehousing, often with multi-level construction. Amazon has led the way for this growth, with multiple warehousing locations opening throughout the area. One Amazon property in Robbinsville (off exit 7A of NJT) has a 1M SF footprint (including parking lot), with a 2.1 M SF 3-level warehouse and 5,000 employees. After further discussion on the forecast for eCommerce warehousing growth, Scott discussed other areas affecting the industrial real estate market, including an update on immediate and future challenges concerning the Newark Port of NY/NJ as well as an overview of institutional investors in the market.

Pictured above (left to right): Doug Cosgrove, Joshua Gorsky, Tony Ianuale