HFF’s Nachamkin: E-Commerce is Real and Very Significant, Expect Modest Rent Growth in NJ Industrial Submarkets

Attendance is building for two premier industry events, The Second Annual Newark CRE Summit, and The Fourth Annual Northeast Industrial Real Estate Summit. Both events will be held on June 21 at The Prudential Center in Newark. Earlier today, we spoke with Michael Nachamkin, Managing Director, HFF, who will be a featured speaker at The Fourth Annual Industrial Real Estate Summit. Michael Nachamkin is a Managing Director in the New Jersey office of HFF with more than 25 years of experience in the commercial real estate and finance industry. He specializes in industrial investment sales in the New York Metropolitan area and nationally. During the course of his career, Mr. Nachamkin has been involved in more than $1.5 billion of real estate transactions. CapRate: With Eastern Pennsylvania and its incentives recruiting tenants from metropolitan NY over recent years, how would you describe the level of new development and investment in Eastern Pennsylvania vs New Jersey over the last 12 months? Nachamkin: Both New Jersey and Eastern PA are very active on both fronts. Investors are starting to view Eastern PA/ Lehigh Valley as a solid core market and view it more favorably than Central PA which is still considered a secondary market. New Jersey is still in the top 5 Core Markets in the United States and institutional investors jump at the chance to acquire high quality product in most locations.  Investors are definitely under allocated for industrial. Development is…