EAST RUTHERFORD, NJ—The New Jersey industrial market sustained its momentum through the fourth quarter of 2015, with continued robust demand, falling vacancies and rising rents for warehouse space, says Cushman & Wakefield in its fourth quarter industrial report.

“The final quarter of 2015 saw robust demand fueled by the submarkets along the New Jersey Turnpike, which pushed vacancy to a 15-year low,” says Jason Price, Cushman & Wakefield’s research director, tri-state suburbs. “As available warehouse space declined in most major market segments, the average asking rental rate rose to a high we have not seen since 2000.”

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