Jan
12
Cushman & Wakefield: Banner Year for NJ Industrials
By
It’s always a full house at RealShare Philadelphia. The Union League, February 9.
Andrew Judd, left, and Jason Price, of Cushman & WakefieldEAST 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.”…
