Northern New Jersey is the highest metropolis to look at for industrial funding this yr, in response to a brand new survey from Crexi.
The area is dwelling to greater than 291 million sq. ft of business area, and tenants have been on a leasing spree with 1.5 million ft of business area dedicated over the previous yr, per Cushman & Wakefield information. Industrial emptiness now sits a a low-low 2.2%, and even the 4 million sf of area underneath building is probably going not sufficient to blunt demand. Per Crexi information, within the final yr, the median bought value per sq. foot for industrial property in New Jersey rose from $132 to $151.
