Industrial Developers Eyeing Polluted Properties
Only a decade ago, an inkling of contamination on a New Jersey industrial property would send developers packing. But today, they're going after these properties for companies looking to set up warehouse and distribution centers as close as possible to densely populated areas—where they can deliver goods in time, have good labor availability and transportation for employees, reports the Wall Street Journal.
Developers say these properties are opportunities to develop in places that might've been expensive otherwise, affording them more money to pay for ground improvements and demolition. This bodes well for areas like Perth Amboy, where some sites have remained stagnant for decades. [WSJ]