“New Jersey’s shining star has been the warehouse and distribution sector” according to Michael G. McGuinness, CEO of NAIOP New Jersey, which represents developers, owners, asset managers, and investors of commercial, industrial and mixed-use properties. The association has 830 members in New Jersey and over 19,000 members throughout North America. McGuinness believes that “the pandemic-driven acceleration of the transition of retail sales online will continue to spur demand for industrial space. In urban and suburban communities, same-day and next-day delivery through e-commerce will support industrial absorption” which ” bodes well for New Jersey’s position as a logistics state.”
Reprinted from Real Estate NJ
September 2020
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