New Jersey industrial real estate market reports

New Jersey industrial real estate market reports

Q3 2022 quarterly report

While broader market forces have shifted the market, the industrial asset class continues to show strength with strong leasing. Asking rents have grown 21% YTD partly due to vacancy rates remaining at historical lows. Occupier demand for modern space has helped generate a development pipeline with over 20 msf of new industrial space now under construction. 

611 msf


Inventory levels have steadily risen throughout the year, with a busy development pipeline set to deliver late 2022 and early 2023.

1.8 msf

Net Absorption

Net absorption displays strong leasing activity throughout the quarter, and the modern space squeeze many occupiers are experiencing.


Direct Asking Rent

Limited available space continues to push asking rents higher quarter-over-quarter.

40.3 msf


Availabilities have increased nearly 3 msf since last quarter and with 611 msf of total inventory, represents a very small increase.



Vacancy has risen less then half a percentage since last quarter, and is expected to stay at historical lows through year end.


Investment Sales

Market uneasiness and rising rates have slowed sale volume by 64% since the start of the year.

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New Jersey industrial real estate market report

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