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Business Brokerage The answer to that old one-liner about being from New Jersey - "What exit?" - has a new meaning as the market for warehouses and distribution centers, mostly clustered at New Jersey Turnpike exits, rebounds from a slump.

Baby boomers in their peak savings years will fuel much of the investment boom. Saving for retirement is being made much easier by the government, favorable pension plans, such as the 401(k) and the Roth IRA. More women in the workforce also means higher incomes and more women qualifying for pensions. meaning that the recipient has the responsibility for investing the money. With such large amounts of money to invest, brokers and financial planners will be in demand to provide investment advice.

Forex Broker Though Exit 8A is still the hottest spot for construction, sales, and leasing of large, ultra-modern facilities, the search for bigger lots has developers and their customers building at or checking out plenty of other exits.

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Online Brokerage "All the national industrial developers want to be in New Jersey," as do major retailers and importers using their warehouses, Mindy Lissner, a first vice president with commercial/industrial property broker CB Richard Ellis in Iselin, said last week.

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Real Estate Broker Cushman & Wakefield, a major real estate services company, rates central and northern New Jersey as the country's No. 3 area for warehouses and distribution centers, after Chicago and Los Angeles, and the industry is picking up in southern New Jersey.

Set in a secluded street adjacent to the renowned Argyle street, this former home of the cities tobacco lords boasts a private cobble courtyard and an old turnpike stair.

Agency Brokerage Spark "As long as consumer spending continues ... New Jersey's going to have distribution centers that are filled," predicts David T. Houston Jr., president of commercial real estate broker and property manager Colliers Houston in Teaneck.

In addition, we provide direct access to the Florida Turnpike and Palmetto Expressway, and we' class golfing and beaches.

Business Broker The reasons, according to brokers, developers, and municipal officials, center on the old real estate adage about location.

Brokerage Account New Jersey sits dead in the middle of the Northeast, so truckers can get shipments to Maine or southern Virginia - reaching at least 40 percent of the U.S. population - in a day. Huge amounts of cargo pour into New Jersey from increasingly busy ports in Newark and Elizabeth, Newark Liberty International Airport, and New York's air and sea ports.

Stock Broker New Jersey still has a decent amount of large, flat, undeveloped lots, reasonably priced, commercially zoned, and with access to water and sewer service. And through it all runs the New Jersey Turnpike, with links to Interstate 95, other major highways, and some rail lines.

Brokerage Online Stock Trading Thus, communities around Exit 8A, such as Cranbury and Monroe townships and, more recently, Hamilton and Washington townships at Exit 7A, have become prime distribution centers for the Northeast.

Broker Justin Ticket Distributors serving New Jersey and New York City tend to cluster in the Meadowlands near Exit 16 and along the Hudson River waterfront.

Real Estate Brokerage But as those areas build up, developers and companies leasing or buying their warehouses have been playing hopscotch along the turnpike, moving south from northern New Jersey and north from Philadelphia suburbs, often to lease more modern facilities, said Harry Kantor, president of developer/builder KOR Cos. of Wall Township.

Commodity Broker His company is just starting work on the Central Crossings Business Park at Exit 7 in Bordentown, which will house a few tenants in up to 1.6 million square feet of warehouse space.

Brokerage House "The massiveness of these [newer] distribution facilities is unbelievable," as Fortune 500 companies consolidate multiple distribution centers into just a couple as big as 1 million square feet to improve efficiency, Kantor said.

Real Estate Broker Exam They require bigger properties with more parking space for trailers, more loading bays, much higher ceilings to stack products higher, and state-of-the-art technology for tracking and moving inventory, experts say. That scale and consolidation dramatically cut costs.

Brokerage Services During the economic boom of the 1990s, developers rushed to build such warehouses on speculation. By 2000, warehousing and trucking were generating about $4.9 billion in revenues and 177,100 jobs annually, according to the New Jersey Commerce Commission.

Broker Live Ticket Construction activity then fell with the economy and tenants moved out, leaving a glut of vacant space, particularly older, smaller warehouses. Things started rebounding at the beginning of this year, with more construction and more businesses moving into vacant warehouses.

Online Brokerage Firm Despite newly finished warehouses, the vacancy rate in northern New Jersey dipped from 7.2 percent in December to 6.4 percent in June, about one-third the vacancy rate for office space.

Security Broker Dealer "You can feel the pent-up demand building," said Jules Nissim, a senior director at Cushman & Wakefield of New Jersey. "The market appears to be picking up dramatically."

Coldwell Banker Residential But now little new construction is on spec, with developers taking the safer route of building facilities that exactly suit requirements of tenants already signed up, said Jim Murray, vice president for industrial development at Matrix Development Group, a commercial developer and property owner in Cranbury.

Freight Broker Matrix has been steadily building out the 800-acre Northeast Business Park in Washington Township at Exit 7A, with new warehouses for mattress retailer Sleepy's and industrial supplier W.W. Grainger now under construction. Matrix also plans to build a 650,000-square-foot parts distribution facility there for Mercedes-Benz.

Freight Brokerage With interest rates low, companies that previously leased warehouses now want to buy them, Murray said.

Broker Lie Ticket Zoning codes can make a huge difference in where the warehouses end up.

4th Boost Brokerage By Cranbury Township triggered its boom by changing its zoning seven years ago to allow unlimited warehousing in the northern end of the 10-square-mile township, near 8A, said Township Planner Harvey Moskowitz. Cranbury now has about 7 million square feet of warehouse space, including a Volkswagen distribution center that opened a month ago.

Florida Mortgage Broker "It caught that explosion of demand" from developers, he said.

Insurance Brokerage By Linda A. Johnson
Associated Press - 8/6/2003

Topic: Sprawl

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