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Industrial Availability Creeps Up; Won't Harm Balance

CHATHAM, NJ-There more than 3 million sf of new builds going up, says a local expert. But there's also roughly 3.5 million feet of need to fill that space.

By John Salustri | Updated on May 25, 2001

CHATHAM, NJ-The bad news is being offset by the good news pertaining to industrial space in the New Jersey market. While there is some 3.4 million sf of space currently going up along the New Jersey Turnpike between exits 10 and 8A, there is demand lined up–to the tune of roughly 3.5 million sf.

That, at any rate, is the state of the sector as seen by the local office of Trammell Crow Co., and senior VP George P. Molloy thinks that the market is “well-positioned to withstand even a slight drop-off in velocity.” Industrial swings into the last stages of Q2 in relative balance, a condition that has existed for the past few years, says Molloy, who is also 2001 president of the New Jersey chapter of SIOR.

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