Southern New Jersey Industrial Market | Overview

Key Trends

• The Southern New Jersey industrial vacancy rate increased slightly during the third quarter from 3.8 to 4.1%.
• Year-to-date absorption is down year over year, but still strong at 2.5 million square feet.
• Of the 2.3 million square feet of construction that is scheduled to be completed in the fourth quarter, two-thirds is still available.

The vacancy rate ticked up in the third quarter, but this is likely to be a temporary increase as demand remained strong, particularly for new construction.