NEW BRUNSWICK— Scarcity in virtually all industrial propertyclasses is making tenant concessions shrink and pricing rise, saidmembers of the Industrial Leaders panel at RealShare New Jerseylast week.
“There is a tremendous push for office property classes whichhas led to lower vacancy rates across markets,” says JordanMetz, vice president of Bussel RealtyCorp. “2013 was a banner year. Everyone was riding thetrain and anticipated that it would continue.”
July and August, usually regarded as the “doldrums of summer,”were “incredibly busy,” said David Iacobucci,managing director, Woodmont Industrial Partners.“There's disappearing tenant concessions, and tightness we haven'tseen since 2006.”
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