For the first time in recent history, the vacancy rate for northern and central New Jersey's industrial market ended the year below four percent at 3.7 percent.
“907 Market Street is a high-quality asset located in the heart of Market East, the fastest growing neighborhood in Philadelphia's burgeoning City Center district,” says Joseph Sitt, CEO of Thor Equities.
“Our client was near capacity and continues to grow their customer base, so this was an opportune time to optimize their distribution and transportation to drive delivery costs down and increase service levels,” says Colliers' Noah Balanoff.
Eastman's ongoing amenity upgrades have attracted and retained a diverse mix of tenants, ranging from not-for-profits and healthcare service providers to accounting, legal and brokerage firms.
“Dining is an important part of today's retail experience, and restaurants comprise a larger percentage of typical shopping center tenant mixes than ever before,” says Matthew K. Harding, Levin Management Corporation's president.