Which means there should be plenty of opportunities for the realestate community, if only lack of sites and development regulationsweren't getting in the way. Still, new construction is happening -such as First Industrial Realty Trust's two new projects inSayreville, Middlesex County, and Franklin Twp., Somerset County.The two projects will add a total of more than 200,000 sf to thelandscape, and First Industrial is hedging its bets: the projectsare being developed as flex space. Chicago-based first Industrialhas its NJ operations based in Livingston.

The first project is at Sayreville Business Center and consistsof two 62,000-sf flex buildings, according to Hayden Tiger, FirstIndustrial's regional director. The first building will be readyearly next year, according to Tiger. Both buildings are designedfor specialized tenant requirements, including light assembly,light manufacturing or distribution.

And adjacent to its Worlds Fair Center in Franklin Twp., FirstIndustrial is developing the 150 Pierce Drive building, totaling72,000 sf. It's adjacent to the recently-completed 155 Pierce and20 Worlds Fair Drive properties, two spec buildings totaling 75,000sf with only 5,000 sf still left. The new facility will besimilarly designed as flex space for a variety of tenant uses.