Warehouses Growing, But Pace May Slow, Industry Says

New Jersey’s red-hot warehouse market showed more strong demand in the last three months although may see less vigorous growth in future if the economy slows and curbs on the industry are imposed by state lawmakers and local officials, according to industry analysts.

Data for the first quarter of 2023 from the real estate firms Newmark and Cushman & Wakefield showed that rents rose again for warehouse space throughout the state, reflecting continued strong demand despite the addition of millions of square feet of new space becoming available.