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Northern, Central NJ Industrial Markets on Different Paths

TEANECK, NJ-It looks like Northern NJ's industrial market will recover faster than its counterpart in the central region when the economy turns upward. So says a first-half report from Colliers Houston & Co.

By Maria Wood | Updated on August 21, 2009

TEANECK, NJ-Due its diverse economic base and access to the Ports of Elizabeth and Newark, Northern New Jersey’s industrial market will recover faster than its counterpart in the central region when the economy rebounds. That, at least is the first-half prediction from a report by Colliers Houston & Co. The Central New Jersey industrial market is not so lucky.

David Houston, Jr., president of locally based Colliers Houston, says Northern New Jersey has historically been a stronger, more diverse marketplace. Central New Jersey is a regional distribution hub populated by larger buildings and is more dependent on–now slumping–retail sales and the local economy.

Houston adds that businesses locate to Northern New Jersey because “they have to be there to service the New York region.” Conversely, as a regional distribution center, Central New Jersey competes with Eastern Pennsylvania, the Lehigh Valley and Maryland. “So it has much more competition than does Northern New Jersey,” Houston tells GlobeSt.com.

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