2026 Industrial Review: Jeff O’Neill, Condyne Capital Partners LLC

What projects, initiatives, or types of work have been keeping your team busiest during the first half of 2026? The Northeast industrial real estate market is being shaped by a combination of steady tenant demand, constrained new supply, and a more disciplined capital market. Companies continue to prioritize modern warehouse and distribution facilities in strategic locations with strong highway access and labor availability, while higher interest rates and construction costs have slowed speculative development. As a result, well-located, high-quality industrial properties continue to perform well, even as tenants have become more selective and lease negotiations have become more competitive.

What trends or shifts have stood out most to you so far this year within your industry? We’re staying active across a mix of industrial and mixed-use opportunities. One of our key areas of focus has been a cold storage project in Brunswick, Georgia, which reflects continued demand for temperature-controlled logistics space. In Connecticut, we’re working through the 500 Day Hill and Targeting Center’s mixed-use development, which is centered on creating a more dynamic, modern environment that blends commercial and residential uses.

What challenges or opportunities have had the biggest impact on your business during the first half of 2026? The biggest challenge facing the industrial sector right now is the combination of high interest rates, elevated construction costs, and expensive land. Together, those factors make it harder to justify new development and compress returns even on strong sites. As a result, we’re seeing more constrained supply of modern industrial space, while tenants continue to compete for the best locations and most efficient buildings. That imbalance is shaping both leasing decisions and development timelines across the market.

As we look ahead to the second half of the year, what are you watching most closely? The greatest opportunities right now are in well-located infill sites and value-add industrial assets where there’s room to reposition or modernize existing space. Limited new supply and high replacement costs are creating strong long-term value for properties that already have good access to labor and transportation corridors. We’re also seeing opportunity in niche segments like cold storage and specialized logistics, where demand continues to grow but supply is still relatively constrained. More broadly, disciplined acquisitions and thoughtful redevelopment feel more attractive than large-scale speculative development in the current environment.