October 18, 2017
The buildings near Exit 8A of the New Jersey Turnpike accounted for nearly half (48.8%) of the 7.1 million square feet of industrial space leased in New Jersey during third quarter of 2017.
There is not much industrial space available to rent in New Jersey. Just 4.0% of industrial space was available to lease in the third quarter, according to JLL. But companies, including several retailers, still found big spaces to rent in the Exit 8A submarket, including:
– Wayfair Inc. leased 1.3 million square feet at Clarion Partners’ 1 Brickyard Road in Cranbury (pictured).
– Rema Foods Inc. leased 300,000 square feet at 2353 US Highway 130, Building 1 in Dayton.
“Large blocks of space will continue to come off the market quickly. Companies hoping to expand their distribution networks in the region via primary submarkets should plan early for their real estate needs,” warned David Knee, executive managing director at JLL.
For comments, questions or concerns, please contact Bendix Anderson