CBRE 2Q Industrial MarketView Sees High Class A Demand

SADDLE BROOK, NJ——The New Jersey industrial market ended the second quarter of 2014 with positive momentum, as increased demand for large blocks of space continued to drive net absorption and kept vacancy rates low, CBRE Group tells GlobeSt.com exclusively in a preview of its Q2 2014 New Jersey Industrial MarketView.

The second quarter closed with positive net absorption of 2.64 million square feet, and availability at 9.2 percent, the lowest since 2008. The most active areas were the Meadowlands and Hudson Waterfront in Northern New Jersey and Exit 8A in Central New Jersey. Total leasing activity was 6.26 million sq. ft., a 39-percent increase over the first quarter.