New Jersey continues to see a growing number of new industrial buildings to meet increasing demand. Distribution centers in Northern and Central New Jersey continue to be snapped up almost as soon as they are made available, no matter the size.
Industrial rents in the region rose slightly from the second to third quarter, continuing to push record highs, according to multiple research reports. Vacancy ticked down slightly, as over 1M SF of new development came online, 78% of it pre-leased, according to Newmark Knight Frank in its Q3 report.