The New Jersey/New York Metro Area leads JLL’s list of the top 18 distribution markets in the United States. Similar to the golfing world, JLL focused on 18 markets (or holes) and breaks down the study to focus on both the “front nine” and the “back nine.”
One reason the New Jersey/New York Metro Area takes the top spot in the “front nine” is because occupiers and investors benefit from the East Coast’s largest seaport, The Port of New York and New Jersey.
The population density in Northern New Jersey, as well as access to Manhattan via the Lincoln Tunnel and the George Washington Bridge make it a prime location for warehouse operations.
Diversity of site selections is also an attribute of the New Jersey/New York Metro area’s industrial market, along with its access to areas connecting the Central and Eastern Pennsylvania markets.
JLL’s criteria for determining the list of top distribution markets includes:
- Access to population and consumers
- Labor metrics
- General “cost of doing business”
- Leverage from taxes and municipal expenses
- Impact from local industrial warehouse and distribution real estate fundamentals on both site selection and investment perspectives
Check out JLL’s full report featuring the top 18 distribution markets in the United States.