New Jersey Industrial Preleasing Rates Accelerate in Q1 2017

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  • Industrial Preleasing-Snapshots_New Jersey_Mar_27_2017Since 2015, preleasing rates have continued to accelerate as developers attempt to meet swelling industrial demand near major population centers. Unable to find high quality existing facilities, many users have turned to proposed development sites, and projects under construction to meet their industrial space requirements. Over the last two years preleasing activity has increase from 32.8 percent in 2015 to 57.4 percent at the end of the first quarter of 2017.
  • As the industrial market reaches its 15th consecutive quarter of positive absorption, and some market participants begin to question the remaining life of the current market cycle, strong pre-leasing rates act as a indication that industrial demand continues to be strong and current construction rates are in-line with that demand.

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