Logistics Center at Parsippany Highlights Industrial Rebound in Northern New Jersey

The Logistics Center at Parsippany, a 140,031-square-foot industrial facility, is set to open in early 2026, bolstering Morris County's industrial landscape. Marketed by Resource Realty of Northern New Jersey (RRNNJ), the site is part of a broader 2 million square feet of industrial developments underway in the region. Principal Tom Consiglio emphasized the strong demand for strategically located logistics spaces, particularly following the challenges of 2024. Local officials, including Frank Cahill, highlighted the project's potential to revitalize underused areas while creating jobs and increasing the tax base. Morris County's industrial vacancy rate remains at 4 percent, significantly lower than the historical average of 5.

4 percent. Despite this positive trend, a disconnect exists between supply and tenant demand, especially for smaller facilities. RRNNJ's Greg Sabato pointed out that most new constructions cater to larger tenants, leaving a gap in the market for smaller, flexible spaces. As the industrial market in Northern New Jersey undergoes adjustments, the Logistics Center exemplifies the shift towards modern, well-located assets.