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C&W: Vacancy in NJ Industrials Lowest in Six Years

EAST RUTHERFORD, NJ—Vacancy in the New Jersey industrial real estate market at mid-year 2015 dipped below eight percent for the first time in more than six years, and occupancy gains finished in the green for the tenth consecutive quarter, according to Jason Price, tristate research director for Cushman & Wakefield.

By Steve Lubetkin | Updated on July 12, 2015

EAST RUTHERFORD, NJ—Vacancy in the New Jersey industrial real estate market at mid-year 2015 dipped below eight percent for the first time in more than six years, and occupancy gains finished in the green for the tenth consecutive quarter, according to Cushman & Wakefield. The commercial real estate services firm’s latest research findings also show continued brisk demand, a modest rise in asking rental rates and a healthy construction pipeline.

Overall vacancy dropped to 7.6 percent during the second quarter, down 0.4 percentage points from the end of March. Within the warehouse/distribution sector, the rate is nominally lower at 7.4 percent.

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