The company has sparked a renaissance of the once-industrial neighborhood, which now attracts more than just tech firms.

There are two key reasons, according to a new report.

Canadian investor Pacific Reach Properties buys its first office asset in the L.A. market, and is now looking at other asset classes, including retail and hotel properties.

“The Northern Bergen County industrial market is very desirable but also land-constrained. It is one of the strongest industrial markets in the country,” Cushman & Wakefield director Andrew Schwartz says.