EDISON, NJ – Bussel Realty Corp.'s Jordan Metz has been busy over the past two months, closing seven long-term lease transactions and one sale in the Turnpike Exit 13A submarket in New Jersey, totaling approximately 145,500 sf.
The seven leases (three renewals and four new) and sale were all signed in “rapid succession” over the past seven weeks, according to BRC, an industrial real estate services firm.
“Class B industrial is 'on fire' in specific locations,” near transportation facilities, says Metz. “Limited inventory across all asset classes has now become the norm — one of the trickle-down results is that it is forcing tenants in Class B facilities to secure their spaces before they are 'all spoken for'. The levels of demand have clearly out-paced any conceivable level of current supply.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
