• The average asking rent for Class A industrial space in North and Central New Jersey increased to $10.46 per sq. ft., up 12.3% from the prior quarter and a remarkable 26% increase year-over-year.
  • Average asking rent for all property classes was stable quarter-over-quarter at the all-time high of $7.53 per sq. ft., an increase of 7.2% from one year ago.
  • Fourth quarter leasing activity was strong at 8.7 million sq. ft., a 58.5% increase from Q3 2019 and 42.6% higher than Q4 2018.
  • 2019 annual leasing activity was 27.8 million sq. ft., 10.3% more than the 2018 total.  
  • The availability rate for all classes loosened slightly by 10 basis points (bps), to 6.0%, slightly ahead of the historic low set in Q3 2019 of 5.9% and down 62 bps from Q4 2018.