Port activity in the Northeast ticked up by 16.1% in 2021, and a lack of available warehouse space has led to sky-high industrial rents in nearly every market across the US.  The Ports of New York and New Jersey have both seen demand skyrocket as disruptions continue near the Ports of Long Beach and Los Angeles on the West Coast, with volumes rising in what CBRE calls an "unprecedented spike." Rent growth in those ports has increased 33.1% year-over-year, fueled by retail, e-commerce, and third-party logistics users.

But developers, hemmed in by a lack of available developable land, are increasingly looking elsewhere.

"The lack of warehouse space near our ports in the Northeast has prompted occupiers to look for space in markets such as Southern New Jersey and Eastern Pennsylvania," said Thomas Monahan, a vice chairman at CBRE. "This has resulted in new projects to meet this growing demand, but it's clear that even the new construction will not be enough. Our research shows that demand will continue unabated throughout 2022, far outstripping supply."