NJ Industrial Markets Healthy, with Good Velocity

RUTHERFORD, NJ— industrial markets are expanding rapidly throughout New Jersey with a good construction pipeline and very little vacancy, according to the Industrial submarkets panelists at this year’s RealShare New Jersey conference.

“In the 29 years that I’ve been doing this, I’ve never seen this much velocity in all the markets in all categories,” says Tom Monahan, CCIM, SIOR, SVP of CBRE. “Regional markets have very little vacancy all the way down to Exit 8A, local markets up here, very little vacancy. So overall, very good tenant velocity, a very good construction pipeline.”