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Industry, Retail Fret as Dock Strike Looms

PORT OF NEW YORK AND NEW JERSEY -The second-busiest port in the country would be shut barely two months after it was closed for six days in the aftermath of Hurricane Sandy.

By Antoinette Martin | Updated on December 28, 2012

PORT OF NEW YORK/NEW JERSEY- Industrial real estate specialists head into the holiday weekend expecting to hit a curve, in addition to a “cliff.” Whatever happens with the fiscal crisis pending on Tuesday, many believe the U.S. dock workers’ union will follow through with a called strike on Sunday, raining hurt on struggling retailers and manufacturing.

“I think it is going to happen,” CBRE’s William R. Waxman tells GlobeSt.com “I think people are prepared for a short amount of time by having brought in extra product. Companies may be somewhat prepared for a longer period of time, since some of their shippers took care to diversify the use of ports after the last shut-down, ten years ago.”

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