MAHWAH, NJ—Northern Bergen County may be getting a new look in the new year as industrial developers scramble to feed the continuing explosion in demand for warehouse and distribution space with short road hauls in the New York metropolitan area.
“Universally, there is a serious lack of new product in the market,” says Kenneth D. Lundberg, SIOR, a senior vice president with NAI James E. Hanson. “Ground is very tough to find, and when you can find it and build a building, the area has gotten very expensive.”
In a recent blog post for NAI Hanson, Lundberg argues that traditional close-in markets like the Exit 8A Turnpike submarket and the West Essex area “are having a difficult time keeping up with demand and industrial users are looking elsewhere for opportunities in newer markets as their property prices creep up and inventory becomes scarce.”
Listen to our complete audio interview with Ken Lundberg in the player below.
|In Mahwah, one development site proved attractive.
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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].
