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Industrial Developers Look Elsewhere as Port Activity In Northeast Reaches Eye-Popping High

Occupiers are looking for space in markets such as Southern New Jersey and Eastern Pennsylvania.

By Lynn Pollack | December 01, 2021 at 06:50 AM

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.

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