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In Salem County, New Jersey, way down at the southern tip of the state, 5.1 million square feet of warehouse space has gone up since 2020, according to CoStar data. The boom has transformed the largely rural South Jersey county into one of the hottest logistics hubs in the state, and with another 2.1 million square feet under construction, and an additional 5.3 million proposed, it doesn’t look like the building spree is ending anytime soon.
On the ground, however, there is a sense that even amid this gold rush, warehouse development is about to hit a wall in Salem County.
“If I were to make a prediction—and I can do that because I don’t know shit…they’re gonna overbuild,” Grant Harris, fourth-generation owner of the Cowtown Farmers Market and Rodeo, located on one of the hottest corridors for warehouse construction, told Retail Brew.
Ryan Curran, a New Jersey-based broker who helped assemble a large property now occupied by Amazon fulfillment centers, said he’s not worried about overbuilding—given that many of the investors involved are generally pretty conservative about where they place their money—but in the short term, the area is hitting its capacity in terms of warehousing.
Keep reading here.—AV
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