The speaker is Dan Frankel, a principal of Newmark JGT of NewJersey, based here. The firm also has an office in Rutherford, NJ."In fact," Frankel continues, "the industrial market in the statecontinues to be one of the strongest in the country."

In fact, one offshoot of the September 11 tragedy has been anincrease in demand for industrial space, especially in the northernpart of the state. "A number of companies began looking fordisaster recovery and data center space," Frankel explains. "Thisspace is typically abandoned or outdated industrial facilities thatare converted into high-tech space."

Another trend in the market, according to Frankel, is a lack ofsmall industrial space. "While there is inventory of large bulkwarehouse space throughout the state," he explains, "tenantslooking for smaller space units are having a tough time fulfillingthis requirement. That has, in turn, kept the pressure onrents."