Investor demand remains strong for all things industrial in New Jersey
Robust investor demand for industrial product in New Jersey over the past year is poised to continue through 2018, according to Cushman & Wakefield’s East Rutherford-based investment sales group. During 2017, the 16-member team orchestrated $1.1 billion in industrial transactions, entering 2018 with $927 million of additional sales under contract, including 6 million square feet of new development.
“Strong investor interest in new construction, vacant-forward sales, and institutional buying off of I-95 speaks to the depth of demand for all things industrial in New Jersey,” said Gary Gabriel, executive managing director, Cushman & Wakefield. Gabriel and Kyle Schmidt, a director, lead the East Rutherford-based investment sales group’s industrial practice, and are members of the firm’s national Industrial Advisory Group.
In 2017, there were 19 industrial sales greater than 100,000 square feet in Northern and Central New Jersey with an aggre