Garden State Industrial Market is Keeping the Faith

WOODBRIDGE, NJ-”While there is uncertainty in both the economy and political landscape, the industrial real estate market has actually held up well. With virtually no oversupply and demand and rental rates remaining steady, the real estate markets in New Jersey have not experienced any dramatic corrections.”

The speaker is Dan Frankel, a principal of Newmark JGT of New Jersey, based here. The firm also has an office in Rutherford, NJ. “In fact,” Frankel continues, “the industrial market in the state continues to be one of the strongest in the country.”

In fact, one offshoot of the September 11 tragedy has been an increase in demand for industrial space, especially in the northern part of the state. “A number of companies began looking for disaster recovery and data center space,” Frankel explains. “This space is typically abandoned or outdated industrial facilities that are converted into high-tech space.”