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Central New Jersey Industrial Market Rises, While the North is Flat

EAST WINDSOR, NJ-Several big-box deals boosted the 8A area, while North Jersey remains hampered by lack of job growth, says Cassidy Turley.

By Debra Hazel | Updated on September 02, 2011

EAST WINDSOR, NJ-Buoyed by several large leases, the Central New Jersey industrial market ended the second quarter on the upswing, while Northern New Jersey remains flat, according to the recently released “Industrial Market Snapshots” for the Northern and Central New Jersey markets from Cassidy Turley. The result could be the first speculative development since before the recession.

The central section of the state reported a vacancy rate of at 9.6%, dropping from 10.6% in the first quarter, the report says. Previously, the vacancy rate had lingered between 10.5% and 10.8% since Q3 of 2009. The majority of submarkets reported positive absorption in Q2, especially along the Turnpike corridor among larger distribution facilities.

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