Roadway Moving, Contenur Take Combined 231K SF at Innovo’s 28-90 Review Avenue
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
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On the RET wire
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Innovo Property Group signed expansive leases for two industrial tenants in one of the company’s developments in Long Island City, Queens. In the largest of the two deals, Roadway Moving , a full-service moving and st…
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