C&W: 3Q Strong for NJ Industrials

EAST RUTHERFORD, NJ—Demand for New Jersey industrial real estate remained strong despite an uptick in available space, says Cushman & Wakefield in its third quarter 2014 research results. Sales of industrial properties increased 24% in the quarter, with more than 4.6 million square feet of space changing hands.

“While demand fell short of reaching six million square feet for a third consecutive quarter, the 5.9 million square feet posted by New Jersey puts the market on pace to record its highest annual total in recent history,” says Kim Brennan, Cushman & Wakefield’s New Jersey market leader. “We recorded 14 transactions in excess of 100,000 square feet during the past three months.”