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Warehouse
Central and northern New Jersey saw record growth in warehouse leasing in the first three months of 2021, while South Jersey became a hot spot for construction of distribution centers, according to a recent survey that provides statistical support to many anecdotal reports that the state is experiencing a wave of warehouse “sprawl.”
The survey by Newmark, a commercial real estate advisory firm, found the aggregate area of leased warehouse space in the northern and central parts of the state grew by 11.1 million square feet in the first quarter, the highest quarterly total for at least 20 years.
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