Goldstein Survey Sees NJ Retail Vacancy At Five Year Low

PARAMUS, NJ–The New Jersey retail vacancy rate continued to drop at the end of 2014, according to The Goldstein Group’s end of year survey of 22 retail corridors in Northern and Central New Jersey.

The survey totals more than 4,250 properties and over 100 million square feet of retail space.  The survey says the retail vacancy rate dropped to 6.2 percent in the 2nd half of 2014, similar to the decline in the first half of the year.  Retailers – both existing and new, coming to New Jersey for the first time – continue to lease retail space at a strong pace, The Goldstein Group study says. This continued improvement is especially significant considering the average retail vacancy rates across the country are still hovering in the 10% range.