As online shopping has boomed, the industrial warehouses needed to store all the stuff people are ordering have become the darling of the asset classes.

According to CBRE, $1 billion in e-commerce sales causes 1.25 million square feet of absorption of industrial and logistics space. Industrial rental rates are near record levels, while there is fierce competition to buy such properties with foreign purchasers spending $61 billion since 2010.

There have always been small warehouses and larger industrial buildings scattered around the boroughs. But the monster, 1 million-squarefooters in the logistical supply chain are mostly sitting right off the I-95 corridor in New Jersey, and creeping closer as developers reactivate spots in the city itself.

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