JLL released the U.S. Industrial Outlook for Q1 2017, and the market started the year on a positive note.
Highlights for New Jersey Industrial:
- The “new normal” for industrial rental rates has left many tenants with a feeling of sticker shock.
- Vacancy rates in primary sub-markets reached new historic lows, and in some cases stand below 2.0 percent.
- Despite the recent surge in rental rates for Northern and Central New Jersey, leasing velocity for new space remained strong.