From left, Andrew Judd and Jason Price of Cushman & Wakefield From left, Andrew Judd and Jason Price of Cushman & Wakefield

EAST RUTHERFORD, NJ—The New Jersey industrial market, fueled by robust demand, recorded a record low vacancy rate for the second quarter of this year and historically high asking rents as well. The office market also ended the second quarter on a high note, according to Cushman & Wakefield.

According to a report released by commercial brokerage firm Cushman & Wakefield, the statewide industrial vacancy rate hit a record low of 3.3%, while asking rents ended the second quarter at $9.27-per-square-foot, a record-high.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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