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New York & Tri-State  + Tri-State  + Industrial  | 
Woodmont's sale of this Woodbridge, NJ industrial warehouse to EverWest was part of a record-setting year for industrial sales in the New York Tri-State region

NY Tri-State Industrial Real Estate Sets New Sales Records 

Total New York Tri-State industrial real estate investment volume of $5.24 billion in the fourth quarter of 2021 brought the full-year total to $10.62 billion, both record levels, according to a CBRE report prepared by the firm’s Nicole LaRusso and Ben Wurtzel. Industrial was the third-largest sector for Tri-State investment volume in 2021 behind office ($15 billion) and multifamily ($17.1 billion).  

Cross-border investment in Tri-State industrial was up 60% year-over-year to $1.28 billion in 2021. Foreign capital accounted for 12% of the region’s industrial investment volume last year, compared to 10% for all asset types. 

New Jersey was the most active region for investment volume with $5.21 billion in sales in 2021, followed by New York City with $3.55 billion. 

Tri-State industrial cap rates have compressed in recent years. However, CBRE’s report says cap rates could potentially rise in the coming year as economic uncertainty impacts investor sentiment. 


Inside The Story

CBRE's LaRusso

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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