New York/New Jersey Industrial Market Update Webinar (2023)

Recorded On: 05/23/2023

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The industrial sector has seen massive growth in the New York/New Jersey area, and increasing rents, supply constraints and low vacancy rates continue to apply pressure in an already tight market. In this webinar you’ll hear from experts operating in the region who will cover the state of the market in the New York/New Jersey area, what’s driving demand, potential headwinds, and opportunities for commercial real estate developers and investors.

Moderator: David Knee, Vice Chairman, JLL

Speakers:
Justin Drysdale, SVP, Brookfield Asset Management
Deven Schmitt, PE, Senior Vice President, Development, Bridge Industrial

Thanks to our sponsor:

Justin Drysdale

Senior Vice President, Development

Brookfield

As Senior Vice President, Development, Justin Drysdale is involved in all parts of Brookfield Properties’ logistics business, primarily focusing on investments and development in the Northeast, Mid-Atlantic and Canada. He opened and now oversees Brookfield’s New Jersey office based in East Rutherford.
Prior to his development role, he was a Portfolio Manager overseeing global investments on behalf of Brookfield’s flagship global opportunistic fund series, Brookfield Strategic Real Estate Partners (BSREP), and multi-sector core-plus U.S. fund, Brookfield Premier Real Estate Partners (BPREP).
Justin has 20 years of industrial real estate experience with a strong analytical background combined with operations and investments.

David Knee (Moderator)

Vice Chairman, Northeast Industrial Region

JLL

David Knee is Vice Chairman at JLL, responsible for overseeing the growth of the Northeast industrial practice in New Jersey, Pennsylvania, and New York.
He is also the Vice Chairman of JLL’s Industrial Council for the Eastern Region, and a practice leader for JLL’s 3PL vertical. He has been with JLL since November 2007.
David has 30 years of real estate experience. Prior to joining JLL, he was a Principal and Executive Vice President at Klatskin Associates, which was sold to JLL in 2007.
He has extensive experience in supply chain & logistics, tenant representation and agency leasing.

Deven Schmitt

Senior Vice President

Bridge Industrial

Deven Schmitt joined Bridge Industrial in 2015. He is responsible for overseeing construction and development of newly acquired assets in the New Jersey and Pennsylvania markets as well as assisting on pre-acquisition due diligence.
He completed development of 9.8 million SF of distribution warehouses while at Bridge.
Deven came to Bridge with a 35-year construction management background in diverse market sectors of industrial and commercial projects for Exxon and international data centers for Tyco Telecommunications in Asia Pacific rim sites.