Around the turn of the 20th century, before Brooklyn was the global brand it is today, the industrial buildings that line the borough’s waterfront were the blue-collar engine that powered the rise of New York City.
The demand frenzy for logistics real estate over the past year has also run up against a reality: There is a limited amount of industrial real estate stock available, said commercial leasing broker Dan Marks, a partner at TerraCRG, a firm that specializes in Brooklyn real estate.
“A few years ago, there was this industrial boom where every major developer or investor in the New York City area was looking to satisfy the need for last-mile distribution,” Marks said. “With the kind of demand for space within the New York City area, you’re limited in the number of sites.”
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