Warehouse Boom Continues to Drive Up Rents, Cut Vacancies

January 31, 2022 | njspotlightnews.org

The latest evidence of New Jersey’s ongoing warehouse boom came from a report on industrial real estate showing another big jump in rents and a slump in vacancies as demand for space exceeded supply once again in northern and central New Jersey in the fourth quarter of last year.

NJ SEED: With scarce open space and warehouses being built where truck traffic was not anticipated, the Legislature and Administration need to give attention to this issue and provide guidance and perhaps standards for future development of an important industry.