Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.
This week by the numbers
Strong net absorption is pushing apartment rents higher in Northern New Jersey, according to the latest Local Apartment Report by Marcus & Millichap. Healthy demand for rentals in Northern New Jersey has supported a 23 percent boost to the average effective rent since 2010. With a large increase to supply this year, the vacancy rate will climb higher, though continued strength of the local apartment sector will support another year of rent gains. Net absorption is anticipated to reach roughly 6,500 units over the course of the year.
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