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NYC Outerboroughs Q1 2022 Industrial Market Snapshot

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Positive Net Absorption Helps Lower the Availability Rate


The New York City’s Outer Boroughs industrial market demonstrated healthy market fundamentals amid supply constraints early in 2022. The availability rate continued to decrease this quarter, improving 130 basis points from last quarter to 6.8%, as the market absorbed 2.6 million square feet (MSF) of space.


Net absorption totaled positive 2.6 MSF, up significantly from the previous quarter, and was driven by the Bronx and Northwest Queens submarkets posting 521,343 SF and 506,824 SF respectively, of positive net absorption.


The Staten Island submarket recorded the lowest absorption total this quarter at 53,500 SF. The shortage of available supply to lease in Staten Island resulted in a slowdown of occupancy gains, which, in a submarket with just 2.2% of the inventory is available for lease, makes it difficult for occupiers to find space.


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NYC Outerboroughs Q1 2022 Industrial Market Snapshot

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Richard Warshauer

Senior Managing Director

New York

From advising SUNY Empire State College  in downstate NY for more than 28 years to leasing up a challenged Lower Manhattan office property, Mr. Warshauer assists a variety of space occupiers and property owners overcome seemingly impossible hurdles to achieve their real estate goals.

Also, long track record of office and industrial leasing and sales in NYC's Outer Boroughs: Brooklyn, Bronx, Queens and Staten Island.

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Robert Lella

Managing Director


As Managing Director at Colliers International, Robert Lella represents  owners and national and regional occupiers in the acquisition and disposition of Industrial and Office requirements. Areas of expertise include sales and leasing of Warehouse and Distribution Facilities and Professional Office with a distinct focus in the outer boroughs of New York, Hudson Valley and Connecticut. Robert specializes in structuring and negotiating of sale and lease transactions, site selection, repositioning projects as well as supply chain logistics.

Prior to his career in Commercial Real Estate, Robert worked as Managing Director in Investment Banking at Bear Stearns, Merrill Lynch and Credit Suisse headquartered in New York focusing on debt underwriting and syndicate. Robert's financial background and experience has allowed for the execution of complex real estate transactions to better serve the specific goals and objectives of each individual client.

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Felix Soto

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Felix joined Colliers International in 2014 as a Research Analyst in the Parsippany office.  Felix assists in gathering and providing market data, as well as assisting brokers in completing various research requests.   

Prior to joining Colliers, Felix worked as a Habilitation Counselor for Rutgers Biomedical and Health Science, where he facilitated and developed multidisciplinary treatment plans with case management clients.  While at the University, Felix provided crisis outreach to assist in recognizing and intervening in potential crisis situations.  Felix moved on to become a Site Manager at Easter Seals of New Jersey, where his primary focus was ensuring services were in compliance with all licensing, policies, and providing utilization and statistical information to achieve financial sustainability. 

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