- Big–box e-commerce requirements remain strong in New Jersey as Amazon.com, Blue Apron and Wayfair leased New Jersey’s largest availabilities. As a result of this demand, absorption skyrocketed in the second quarter of 2016, and is expected to continue at its current pace through the rest of the year.
- Nowhere was this more evident than in the Exit 8A submarket, where second quarter leasing activity reached 3.5 million square feet, accounting for 38.8 percent of total leasing activity in Central New Jersey.
- A total of 1.6 million square feet of positive net absorption was recorded in the first half of 2016, already making 2016 one of the best years this decade. The Exit 8A submarket is expected to finish the year with more than 2.8 million square feet of positive net absorption.
Agency Leasing, Brokerage, Commercial Real Estate, CRE, Industrial, Industrial Services, JLL, New Jersey, NJ, Research