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NJ Q1 2021 New Jersey Industrial Market Report

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Over the past year, COVID-19 had a profound impact on New Jersey’s Industrial market. Social distancing mandates has accelerated the shift toward online shopping, a trend that will likely stick and be a permanent part of consumer buying habits. This has increased demand for both distribution and cold storage space as online grocery shopping persists. As such, industrial demand has been boosted by the e-commerce and logistics industry, increasing the shortage of an already limited supply of big-box warehouses.

New Jersey's industrial market continued to benefit from a shift in consumer buying habits that resulted in a remarkable start to 2021. Leasing activity totaled a nearly record breaking 15.7 million square feet (MSF), an impressive feat considering just 4.1% of the inventory is available and without a significant lease transaction from Amazon.

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NJ Q1 2021 New Jersey Industrial Market Report

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John Obeid

Senior Director, Tri-State Suburban, Research


John Obeid leads the research operation for the NJ office of Colliers International as Senior Director of Research.  With more than 8 years of experience in the commercial real estate industry, John’s research expertise spans across multiple business lines, including office, industrial and retail.

John joined Colliers International in 2014 and is primarily focused on creating a business development strategy in research with a concentration on analytics and output. He is responsible for monthly and quarterly market reports, quarterly market reports and overall maintenance of the company’s research databases. He also coordinates with all of Colliers’ business lines to extract appropriate market data to conduct asset-level analysis for Colliers’ clients. Prior to joining Colliers John led the New Jersey research department at CBRE.

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