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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.

 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

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GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

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