Dov Hertz is looking for more industrial sites in New York City and beyond where his company can build multi-story warehouses to meet tenant demand. Wednesday…
Hertz is the president of DH Property Holdings, an industrial property developer in New York City. He started the company in 2016 after spending more than 13 years as an executive at Extell Development Co.
Hertz spoke with the New York Business Journal recently about the tight market for new industrial space in New York City, what sites he’s scouting for, and his plans for 2022.
In an environment where the availability rate for Class A industrial space in New York City was 2.2% last quarter, and when leasing activity is said to be held back by supply rather than demand, how have you positioned your company to capture the moment?
I agree that vacancy rates are very low. Now, that’s amid strong demand but also, other than a few exceptions for users who have built or have had developers develop for them — like a FedEx or UPS or a local distributor who built his own building — there hasn’t really been new development in this [market] before recent times for 50 years.
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DH Property Holdings is a leading real estate development, investment and asset management firm focusing on complex industrial distribution warehouses in dense, urban-core areas.
