New Jersey industrial real estate market reports
Q1 2024 quarterly report
In Q1 2024, the New Jersey industrial market maintained relative stability with an average NNN asking rent of $16.12. The overall availability rate increased slightly to 9.4%. Leasing activity remained subdued with 4.88 million square feet of leasing activity occurring whilst 98% of newly constructed buildings delivered empty. The delivery of mostly empty buildings will continue to impact rents as occupiers look to take advantage of the growing amount of available space with owners looking to fill it.
average asking rent
of leasing activity
of newly constructed buildings delivered empty
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