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Tag Archives: JLL Capital Markets

Report: NJ-NY ports market ranks among top 5 nationwide for rent growth

JLL closed the sale of a 138,642-square-foot, Class A, frozen storage facility fully leased to Seafrigo Cold Storage at 900 Fairmount Ave. in Elizabeth in February 2022.

“The New York and New Jersey Port market has the lowest vacancy rates and one of the strongest year-over-year rent growth stories,” said JLL Capital Markets Managing Director Marc Duval in a statement. “It’s evident ... investors are chasing port locations and growth fundamentals. Due to transportation costs rising and the flight to core locations becoming more of a focus, investor demand for port assets is at an all-time high."

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