New Jersey industrial real estate market reports
Q4 2023 quarterly report
The New Jersey industrial market continues to be one of the strongest industrial markets in the nation. The surge in new construction and expansion efforts brought on by the Covid-19 pandemic have begun to slow down as supply catches up to the demand and is reflected by the -31.89% year-over-year decrease in investment sales volume. Year-over-year average asking rents have increased once more but at a pace which suggests it will level off for the first half of 2024. 2023 activity remains strong, exceeding the annual average of 20.3msf of leasing volume since 2012.
increase in the average asking rent year-over-year
of leasing volume
investment sales volume year-over-year
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