Industrial Availability Hits Six-Year Low, Leasing Robust, Says CBRE

Nicholas Nitti, left, and Mindy Lissner, of CBRE

SADDLE BROOK, NJ—Industrial property availability in New Jersey dropped to 7.8 percent, a six-year low, in the fourth quarter of 2015, while industrial market experienced a strong finish to 2015 as it continued the recovery toward pre-recessionary levels.

For the fourth consecutive quarter, New Jersey’s industrial market surpassed the 5 million square feet quarterly leasing mark, with 7.02 million square feet of new lease commitments, according to CBRE research. This robust demand carried annual velocity to 24.28 million square feet—a 21.7 percent increase over 2014 levels and the second highest annual leasing figure in the past nine years.