John Notte’s Post

In New Jersey, the demand gap between small and large buildings is widening. Older small-bay properties (under 50,000 SF) are in high demand with just 3.9% availability. While newer big box spaces (250,000+ SF) struggle with oversupply with 13.6% availability. Limited land in North Jersey has shifted most new big box construction to Central and South Jersey. Three counties—Middlesex, Burlington, and Salem—hold 68% of the available big box space. Since 2023, NJ has added 38M SF of warehouse space, with 17.3M more under construction. This sets the stage for a highly competitive leasing environment in the coming years. For big box tenants, the market is growing more favorable. #nmrk #newmarkgreaterphilly

It’s a tale of two markets in the New Jersey industrial arena. At one end, occupiers are scrambling for small bay spaces (under 50,000 SF) as that segment is mostly full, with little new supply on the horizon. At the other end, availability rates are in the double digits for properties sized 100,000 SF and up. In fact, there is over 74 million SF of available space across the Garden State in this size bucket, which includes 14 million SF at buildings still under construction. Needless to say, it will take some time to fill the biggest boxes, particularly in South Jersey, where competition for tenants will be fierce with numerous large projects approaching the finish line. #newjersey #industrial #realestate #construction #availability #costar

The industrial real estate market is buzzing with activity! 🏢 An 80,000-square-foot warehouse located at 1354 Old Post Road in Aberdeen has been sold for a whopping $7.96 million. Constructed in 1950, this facility boasts 21-foot ceilings and is strategically situated near US Route 40 and I-95, providing excellent logistics advantages. Having worked in the real estate sector, I’ve seen firsthand how these strategic locations can transform a business. The convenience of nearby highways boosts operational efficiency—a fact that resonates with many industries relying on smooth logistics. What do you find most advantageous in choosing an industrial site: location, facility features, or price? 🤔 Let's discuss! #RealEstate #IndustrialProperty #Logistics #Warehouse #InvestmentOpportunities

Small bay industrial flex standing out as one of the best performing categories of commercial real estate. Nice to see Greensboro (#15) 3.5% availability rate, Charlotte (#22) 3.1% availability rate, and Greenville/Spartanburg (#28) 3.4% availability rate, make the list of most acute shortages of smaller industrial space. This is positive for Landlords of these properties as investment sales activity continues to shift toward this category within industrial market. Additionally, sales prices are usually under $10m which alleviates some of the capital market environment pressure as there are more cash buyers in this arena. We have two value add properties we are bringing to market in Charlotte off South Blvd and Greensboro/High Point off I-74...Send me a message to learn more. #costar #smallbay #investmentsales #industrialrealestate #Southeast #valueadd #owneruser

Rental rates in Burlington County, NJ have leveled off due to the abundance of available warehouse space, while incentives such as free rent and tenant improvements are steadily increasing. Burlington County has the second highest warehouse availability rate in the US, surpassed only by southeast Dallas. Over the past five years, 19.5 million square feet have been delivered in Burlington County, representing a 33% increase in supply. This growth is 3X the national average of 11% during that same time period. With a net absorption of 3 million square feet last year, it could take Burlington County over five years to absorb the new warehouse construction. This sentiment appears to extend beyond Burlington County. What other industrial markets are feeling the weight of increased industrial availabilities? #nmrk #newmarkgreaterphilly

Northern New Jersey Industrial Market Q3 2024 Update 🚨 The industrial real estate market in Northern New Jersey is undergoing notable shifts: 🔹 Vacancy Rates have increased from 4.7% to 6.7% year-over-year, as 9.5M sq. ft. of sublease space is now available, offering occupiers competitive options. 🔹 Asking Rents dipped slightly to $17.14/sq. ft., reflecting a 0.8% year-over-year decrease. 🔹 Net Absorption rebounded to +0.8M sq. ft., a promising shift from last year’s negative absorption. 🔹 New Deliveries and Under Construction projects have slowed, with just 2.2M sq. ft. delivered and 6.9M sq. ft. under construction. Despite the recent dockworkers strike affecting short-term activity, long-term demand remains strong, particularly from China-focused logistics providers. As sublease space grows, now is a prime time for occupiers to secure modern and affordable warehouse space. Read more: https://lnkd.in/eapnNHtZ #IndustrialRealEstate #MarketUpdate #Logistics #WarehouseSpace #CRE

After years of strong tenant demand, the Puget Sound region's industrial market is undergoing a significant transformation. Absorption has been negative over the first three quarters, leading to a spike in the vacancy rate to nearly 8%, marking its highest level since 2011. The region has experienced a substantial occupancy loss due to increased construction activity, slower leasing, and move-outs by existing tenants. Industrial tenants in 2023 have relinquished over 3 million square feet, contributing to a total occupancy loss of more than 400,000 square feet. This stark decline contrasts sharply with the remarkable 18 million square feet in occupancy gains observed during 2021 and 2022, which were Puget Sound's two most robust years for industrial demand this century.

The South Carolina market is an ideal place for industrial tenants for several reasons. Transportation, accessibility and location all serve to create strong fundamentals for the industrial market. At the center of South Carolina, three major interstates, I-26, I-77 and I-20, with I-95 approximately 60 miles away, make it an ideal place for industrial tenants to quickly reach surrounding Southeastern states as well as 66% of the country's population within a day's drive. Another major benefit of the South Carolina market is the accessibility of major ports; the Port of Charleston and the Port of Savannah is an easy drive from most of the state. CSX and Norfolk Southern have rail lines throughout South Carolina and the Eastern United States, and several of Weston's properties are rail-served by one of the two companies. 3464 Mike Padgett Highway in Augusta, GA, has 534,390 square feet for lease that includes 34,432 square feet of office space. Call us today for more information or to schedule a tour. #colliers #industrialrealestate #commercialrealestate #manufacturing #warehouse #distribution #southcarolina #westoncre

Existing industrial property owners in Northern New Jersey were hit in 2023 with a double whammy of shrinking leases and record new supply. Tenants are downsizing, with the average new lease size down 24% from 2022, but there is not enough small bay space available that fits their needs. Developers, meanwhile, are working through the last of their pandemic-induced pipeline, yet much of the stock is in larger facilities. The size mismatch between what’s desired and what’s available is one of the key themes hanging over the metro in 2024. #northjersey #industrial #leasing #availability #costar

Louisville Metro area Industrial Trends - Relative to March, Industrial property sales remained flat while leases were down nearly 50%. The number of industrial properties listed for sale increased by around 5% while the number of properties listed for lease decreased by more than 10%. However both listings for sale and lease are higher than one year ago. Overall, the industrial sector continues to do well, but there is no doubt that it has also cooled significantly from a year ago. #CommercialRealEstate #RealEstate #CommercialRealEstateTrends #IndustrialTrends #LouisvilleKY #CommercialBroker #OtimoProperties