Hot Summer 2017

New Jersey industrial real estate continues to sizzle along this summer with an unprecedented speculative construction pipeline emerging. E commerce is just 10% of all retail in the USA , so there's room for continued growth through companies like Blue Apron, Amazon /Whole Foods shipping perishables and other food product. The last mile for that choice piece of fresh fish , a just picked fruit and vegetable is the last battleground . Confidence will have to be earned by the provider of this service. If you go the route of Blue Apron, you still have to mix the sauce and do the work to prepare a meal, but at some point you'll will see in NJ fresh meals delivered through Whole Foods. We are also seeing a resurgence in Biotech and Pharma. There is a growing demand for medications to be manufactured in the NJ/NY region. We continue to represent companies who need to establish a presence in NJ and look forward to a 3rd and 4th quarter that will most likely increase the occupancy rate even higher than the 93% that it stands now. Also, Asian-based manufacturing companies are looking to reside in NJ and compete directly with the US-based companies. Christopher Galiano, SIOR cgaliano@naidb.com 732-985-3000