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New Jersey's Industrial Demand Hits Uncharted Territory, Executives Say

Positive Issue of Leasing Comes as State Weathers Negative Problem of Tax-Break Criticism
Andrew Merin, left, Cushman & Wakefield vice chairman, Ed Russo, president of Russo Development, and Christopher Paladino, president of New Brunswick Development Corp., speak at a panel at NAIOP New Jersey's annual meeting this week at the Short Hills Hilton. (Linda Moss/CoStar)
Andrew Merin, left, Cushman & Wakefield vice chairman, Ed Russo, president of Russo Development, and Christopher Paladino, president of New Brunswick Development Corp., speak at a panel at NAIOP New Jersey's annual meeting this week at the Short Hills Hilton. (Linda Moss/CoStar)
CoStar News
January 30, 2020 | 12:32 AM

New Jersey's soaring industrial market is in uncharted demand territory, making it difficult to predict when the leasing will cool, local executives say. And they point out that it comes as the state deals with a negative real estate issue, criticism of its programs to award tax breaks to get companies to do business in New Jersey.

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